Question

# At what percent of simple interest will the sum of money amount to 5/3 of itself in 6 years 8 months?

Hint:

### It is given that A = times the principal amount.

## The correct answer is: 6 years and 8 months

### Complete step by step solution:

Formula for total amount = A = P + SI…(i)

where is the total amount, is the principal amount and is simple interest .

Here, P and

where P is Principal amount, T is number of years and R is the rate of interest.

It is given that time (T) = 6 years 8 months = years.

We have, T = 6.66667 (given)

On substituting these values in (i), we have .

Subtract P from both sides.

Then we have,

On further simplifications, we have

Then we get,

At 10% per annum the sum amount will be itself in 6 years and 8 months.

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