A sum of money triples itself at 8percent per annum over certain time.The number of years is
Answers
Answered by
1
Answer:Let sum of money is P
after T years , sum of money will be 3P as according to question,
rate per annum = 8 %
we know,
SI = P × R × T /100
= P × 8 × T/100
final sum of money = simple interest + initial sum of money
3P = SI + P
2P = P × 8 × T/100
2 = 8T/100
T = 200/8 = 25
hence, after 25 years sum of money will be triple itself .
Read more on Brainly.in - https://brainly.in/question/2600587#readmore
answer
Similar questions