Question

a sum of money triples itself at 8% per annum over certain time. the time taken is

Answer 1

Answer:

Yrs = (n-1) x 100 / rate of interest.

Yrs = (3-1) x 100 / 8

Yrs = 2 x 100 / 8

Yrs = 200 / 8

Yrs = 25

So, the time is 25 years.

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