Question

35. A sum of money triples itself, the rate of simple
interest being 5% per annum. What is the time period?
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Answer 1

Answer:

Step-by-step explanation:

Let the sum of money be =100

Amount = 100 * 3= 300

SI = 300 - 100= 200

Rate= 5%(given)

Let the time period be =x

ATP

p*r*t/100=200

100*5*x/100=200

500x/100=200

500x=200*100

500x=20000

X= 20000/500

X= 40

Hence time period = 40 yrs