Question

A sum of money doubles itself in 6 years at certain rate of interest.
In how many years would it triple if the rate of interest is increased
by 3 1/3 p.a. ?
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Answer 1

Answer:

solution

Step-by-step explanation:

let the principle=P

rate of interest=r%

P+P×r6/100=2P-P=P

r=100/6=16.67%

P*(16.67/1t00)t=2P

t=100+2/16.67=12yrs

or6×2=12yrs

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