Question

6. How long will it take a certain sum of money to triple itself at 13⅓% per annum simple interest
simple interest ?
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Answer 1

Consider principle = 100

Then total amount = 100×3=300

Simple interest=300-100=200

Formula for finding time=

$time = \frac{simple \: intrest \times 100}{principle \times rate}$

According to question=

$time = \frac{200 \times 100}{100 \times 13 \frac{1}{3} } = \frac{200}{13 \frac{1}{3} } =$

$200 \times 13 \frac{1}{3} = 200 \times \frac{40}{3} = \frac{8000}{3}$

$= 2666 \frac{2}{3}$