Question

A sum of money at simple intrest doubles itself in 6 yrs 3 months. In how much time will it triple itself?​

Answer 1

Step-by-step explanation:

Thus, time taken for the money to triple, i.e., to earn interest of (3P - P), or 2P is :- 2P = P x 12 x T / 100 => T = 2 x 100 / 12 years = 50/3 years. Therefore, it will take 16 years and 8 months for the money to triple itself.