Question

A certain sum of money triples itself in 8 years. In how many years it will be 5 times

Answer 1

Please see the attachment

Answer 2

Answer:

16 years

Step-by-step explanation:

Let principal be x

We are given that A certain sum of money triples itself in 8 years.

So, Amount = 3x

Interest = Amount - Principal =3x-x=2x

Time = 8 yeras

Let rate of interest be r

$SI = \frac{P \times R \times T}{100}$

SI = Simple interest

P = Principal

T= Time

R = rate of interest

$2x= \frac{x \times r \times 8}{100}$

$200= r \times 8$

$r=25%$

Now we are supposed to find  In how many years it will be 5 times

Time = 5 years

Principal = x

Amount = 5x

Interest = Amount - Principal = 5x-x=4x

Rate of interest = 25%

$SI = \frac{P \times R \times T}{100}$

SI = Simple interest

P = Principal

T= Time

R = rate of interest

$4x= \frac{x \times 25 \times T}{100}$

$\frac{400}{25}= T$

$16= T$

Hence it will be 5 times in 16 years