If a sum of money becomes n1 times itself in t years, in how many years will it become n2 times
Time =
Time =
| t(n2- 1) |
| (n1 - 1) |
NOTE : The above formula is applicable only for SIMPLE INTEREST
Example 1:
A sum of money double itself in 4 years , in how many years will it become 8 times of itself ?
Solution:
time =
| 4(8 - 1) |
| 2 - 1 |
Example 2:
A sum of money double itself in 7 years , in how many years it will become 4 times of itself?
Solution:
time =
| 7(4 - 1) |
| 2 - 1 |
Example 3:
A sum of money triples itself in 7 years , in how many years it will become 4 times of itself?
Solution:
time =
| 7(4 - 1) |
| 3 - 1 |