Question

A sum of money at simple interest doubles itself in 8 years 4 months.In how much time will it treble itself?​

Answer 1

Answer:

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Answer 2

Let the money be x

So after 8 years 4 months it becomes 2x

So simple interest is x

Time - 8 years 4 months (25/3 years)

Simple interest = prt/100

x= x*r*25/300

R = 12%

Now sum becomes triple

So simple interest is 2x

2x=x*12*t/100

T=100/6=50/3 =16{2/3} - 16 years 8 months