Question

A sum of trebles itself in 20 years at simple interest
Find the rate of interest

Answer 1

Answer:

Let the amount doubles in 20 years @ R% interest

Then 100=

100

100×20×R

⇒R=5 %

Let the amount trebles in T years @ 5%.

Then 200=

100

100×5×T

⇒T=40 years