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Someone invested x dollars at simple annual interest, and the investme

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DeeptiM
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Someone invested x dollars at simple annual interest, and the investme [#permalink] New post   27 Aug 2011, 00:07
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Someone invested x dollars at simple annual interest, and the investment, including interest will be doubled in 8 and 1/3 years. What will be the total amount of the investment after 25 years?
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fluke
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Re: Someone invested x dollars at simple annual interest, and the investme [#permalink] New post   27 Aug 2011, 00:16
DeeptiM wrote:
Someone invested x dollars at simple annual interest, and the investment, including interest will be doubled in 8 and 1/3 years. What will be the total amount of the investment after 25 years?


x becomes 2x in 8.33 years.
x will become 3*2x in 25 years because the investment is SI and time is 25 years, 3 times 8.33

Ans: 6x
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Re: Someone invested x dollars at simple annual interest, and the investme [#permalink] New post   27 Aug 2011, 00:57
Can you help me with formula used...also ans is 4x
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Re: Someone invested x dollars at simple annual interest, and the investme [#permalink] New post   27 Aug 2011, 01:05
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DeeptiM wrote:
Can you help me with formula used...also ans is 4x


Yes, it is my mistake. only x is actually accrued as interest in 8.33 years, thus 3x will be accrued in 25 years. Total=4x.

\(SI=P*r*t\)

\(x=x*r*(\frac{25}{3})\)

\(r=\frac{3}{25}\)

For 25 years:
\(SI=x*(\frac{3}{25})*(25)=3x\)

SI is just the interest, which is 3x, when added with principal x; it becomes 4x

Ans: "4x"
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Re: Someone invested x dollars at simple annual interest, and the investme [#permalink] New post   11 Jun 2019, 12:18
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Re: Someone invested x dollars at simple annual interest, and the investme [#permalink]
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