Question

a sum of money lent out at simple interest Doubles itself in 8 years find in how many years will the sum becomes three times of itself at 12.5% rate please help me friends

Answer 1

Answer:

16Yrs

Step-by-step explanation:

Let the Principal be Rs.100

As it becomes 3 times ; the Amount will be Rs.300 and hence the interest is Rs.300 - Rs.100 = Rs.200

Let the term be t.

Hence, 200 = 100*t*12.5/100

t = 200/12.5 = 16 yrs

Hence the term is 16 Yrs