The time required for a sum of money to amount to five times itself at 16% simple interest p.a. will be
Let Principal = Rs. 100 then Amount = Rs. 500 then Simple Interest = 500-100=400 & we know that , Simple Interest = (P ×R ×T)/100 So 400 = (100 ×16 ×T)/100 T = 400/16 = 25 years.
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