Question

3.
A sum of money, lent out at simple interest,
doubles itself in 8 years. Find :
(0) the rate of interest.
(ii) in how many years will the sum become
triple (three times) of itself at the same rate
percent?​

Answer 1

Answer:

Let P = Rs. 100

A = Rs. 200

I = Rs. 200 – Rs. 100 = Rs. 100, T = 8 Years

R = (100 × I)/(P × T) = (100 × 100)/(100 × 8) = 100/8 = 25/2 %

Now again P = Rs. 100

A = Rs. 300

I = Rs. 300 – Rs. 100

= Rs. 200

R = 25/2%

T = (100 × I)/(P × R) = (100 × 200)/(100 × (25/2))

= (100 × 200 × 2)/(100 × 25) = 16 Years

So the given sum of money will become triple in 16 years.