Question

a sum of money at simple intrest doubles itself in 8 years 4 months. how much will it triple itself

Answer 1

Let p be x
THEN, a=2x
And interest =a-p=2x-x =x
Time given =8 years and 4months=25/3 years
Using formula..
I=prt/100
x=x*r*25/100*3
r=12%



Now to triple itself,
p=x, a=3x, i=3x-x=2x, r=12%, t=?


Using formula,
I=prt/100
2x=x*12*t/100
2*100/12=t
T=50/3=16 years and 8 months