a compound interest in the 5 percentage how many years take to triple the amount
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Answer:
Step-by-step explanation:
Lets say your sum is P
If we wanna go by Simple interest:
to triple the amount, you need simple interest as twice the Sum(P)
thus SI= PxRxT/100
2P = P x R x 10/100
20% = Rate
Total amount = P + SI = 3P
thus at 20% rate, your total sum will be 3P after 10 years
Now if we go by compound Interest
Amount = P(1 + R/100)^T
since amount is 3P
3P = P(1 + R/100)^10
On solving
1.1161231740339044344426141383771 = 1 + R/100
R/100 = 0.1161231740339044344426141383771
rate = 11.61231740339044344426141383771 %
Thus at a rate of 11.612% ( approx). Your sum will get tripled by 10 years(if compounded Anually).
mark as brainlist please
rajaprabubas0012:
my sum 5 percentage rate of interest ...How many years it will take triple the P ??
rate-11.61231740339044344426141383771%
i ask how many years?
for 5 per rate of year interest
10 yrs
not satisfied
i have given briefly in the ans itself dude
But the ans is 22and half years
in how many years the sum of money will triple with the 5percentage CI payable annually?
The ratr of intereat is 5percentage...but u say 11. something
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