Question

A sum of money lent out at simple interest Doubles itself in 8 years find the rate of interest in how many years will the sum become three times of itself at the same rate percent

Answer 1

Solution :

let the sum be X

if the sum doubles,

x = x * r * 0.08

r = 12.5%

if it be three times

3x = x + SI

SI = 2x

2x = x * 12.5 *t/100

200/12.5 = t

t = 16

so in 16 years it wil become three time

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