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A certain scheme of investment in simple interest declares that it trebles the investment in 8 years. If you want to quadruple your money through that scheme, you have to invest it for :
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- 11 years 6 months
- 10 years 8 months
- 10 years
- 12 years
- 11 years 6 months
Correct Option: D
Case I Let principal be p then Amount = 3p
S.I. = Amount - Principal = 3p - p = 2p
| ∴ Rate = | |
| Principal × Time |
| Rate = | = 25% | |
| p × 8 |
Case II
| Time = | |
| Principal × Rate |
| Time = | = 12 Years. | |
| p × 25 |
