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A sum of money triples itself in 15 Years 6 Months. In how many years would it double itself?

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6 years 3 months

7 years 9 months

8 years 3 months

9 years 6 months

answer is B.

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Detailed Solution

Concept: In order to solve the given question, given that sum of money triple itself in 15 years 6 months so, here we have to find the money double itself in how many year’s.
Here,

let sum be x, so SI = 2 x

Time = 15 \frac{1}{2} = \frac{31}{2} years .

Rate = \frac{100 \times 2 x}{x \times \frac{31}{2}} %

Rate = \frac{400}{31} %

Then,

sum = x, SI = x, Rate = \frac{400}{31} %

Then ,

time = \frac{100 \times x}{x \times \frac{400}{31}}

Therefore ,

Time = \frac{31}{4} years .

T = 7 years 9 months

Hence, the correct answer is 7 years 9 months.

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