Question

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

Topic :- Simple Interest

Step by step explaination needed !!

No Spam ! ​

Answer 1

Assumptions:-

P = 100 Rs

So,

We know,

Amount = Principal amount + Interest.....(1)

Given,

The principal amount doubles itself,

So,

Amount = 2*100

= 200 Rs....(2)

Now,

We also know,

I = (P*T*R)/100....(3)

Where P = Principal amount

T = Time period

R = Rate %

From (1), (2) and (3)

Putting every required value,

200 = 100 + (100*25*R)/(3*100)

R = 12%

Now again, for tripplying the amount,

300 = 100 + (100*12*T)/100

T = 16 years and 8 months

For these types of problems, you should do the problem step wise step and always remember the required formulas for your reference.

Answer 2

Amount = Principal + Interest

Let P = 100

Then A=200

so

200=100+ (100*r* 25 )/3*100

(100*300)/25*100=R

12%= R

The amount will triple in

300= 100 + (100*12*T)/100

(200*100) /100*12=T

16 years 8 months = T