A sum of money doubles itself in 6years. in how much time will it become thrice at the same rate of interest.
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Answer:
Let principle = 100
In 6 year Amount = 2×100 =200
Interest in 6 year : 200- 100 = 100
Time T = 6 year
Simple interest (SI)= PTR/100
Rate of interest (R)= 100×100/(100×6)
R= 50/3
3 times principle=3×100 = 300
Interest : 300-100=200
R=50/3, interest = 200 , Time(T)=?
Time (T) = 200×100/(100×50/3)
T= 12 year
Ans: 12 year
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