Question

1.In how many years will a sum of money double itself at 4% per annum?

2.In how many years will a sum of money triple itself at 20% per annum?
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Answer 1

Answer:

( i ) answer:-

⇒ Let sum = x.

⇒Then, S.l. = x.

∴ Time = 100×S.I / Sum × Rate

⇒( 100 × x / x × 4 ) years = 25 years

( ii ) answer:-

The formula for simple interest calculation is -

I = P × R × T / 100

Where

⇒ I is interest

⇒P is principal amount

⇒R is rate of interest

⇒T is time in Years.

Now you want to triple the money.

⇒ That means I = 2P

⇒Hence 2P = P*R*T/100

⇒2*100 = 15*T

⇒Hence T = 200/15 = 13.33Y or 13Y and 4 months.

⇒So the answer for your question is 13Y and 4 months.

Step-by-step explanation:

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