Question

A sum of money double itself in 10year how many no of years it will take to triple itself

Answer 1

Step-by-step explanation:

it will take 15 years to triple

Answer 2

Answer:

In 20 years amount will be tripled.

Step-by-step explanation:

Let the Principal Amount, P = Rs. x

Given: Time period to get double , T = 10 years

Amount, A = Rs. 2x

We know that ,

Simple Interest, SI = A - P = 2x - x = x

Now, Using Simple Interest formula,

$SI=\frac{P\times R\times T}{100}$

$x=\frac{x\times R\times10}{100}$

R = 100/10 = 10 %

Now when

New Amount , A = Rs. 3x

From above Rate , R = 10 %

From Same formula, SI = 3x - x = 2x

This time we need To find Time in which Principal amount is tripled.

$SI=\frac{P\times R\times T}{100}$

$2x=\frac{x\times10\timesT}{100}$

T = 2 × 10

T = 20

Therefore, Amount is tripled in 20 years.