A sum of money double itself in 8 years at a certain rate . In how many years will it become triple of itself at the rate at the rate of simple interest
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Answer:
Step-by-step explanation:
A=p+p=2p
SI=p
p=p
SI=p*t*r/100
p=p*t*r/100
tr=100
next Amount triples
A=3p=p+2p
SI=p*t*r/100
2p=p*t1*r/100
t1*r=200
tr/t1*r=100/200
t/t1=1/2
t1=2t=2*8=16years
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