Question

A certain sum of money doubles itself in 8 years. How much time will it take to triple itself at same rate?
please answer step by step​

Answer 1

Step-by-step explanation:

There are many different ways to solve this problem but I choose this one

(SI in case first)/(SI in case second) = (Time in case first)/(Time in case second)

SI1/SI2 = T1/T2

1/3 = 8/T2

T2 = 24 years

Explanation:-

SI = P*R*T/100

When principal amount P and rate of interest R is same or constant in both cases then simple interest or the ratio of simple interest will be directly proportional to the time or ratio of time

SI1/SI2 = T1/T2

Ratio of Simple interest in both case will be 1:3

In first case the simple interest will be one time of principal amount or initial value because the initial value is becoming double of itself

But in second case the simple interest will be 3 times of principal amount or initial value because the initial value is becoming 4 times of itself

Answer 2

Step-by-step explanation:

sum of money =?

double itself = 8 years

Triple itself = 8 x 3

ⓐⓝⓢⓦⓔⓔ= 24 years