Question

An amount of money invested is tripled in 6 years . Find the rate of interest earned.​

Answer 1

Answer:

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Solution :-

Let's Principle=p, Amount=A, Time=t, Rate=r interest=S.I

We know that

S.I=(p*r*t)/100

A=S.I+p

First condition:

(According to question: amount double in 6 year)

A=p+S.I=p+p=2p

Mean S.I=p

S.I=(p*r*6)/100

p=p*r*6/100

r=100/6

Second condition:

According to question: how many years we will get 4 times your amount.

4p=A=p+S.I=p+3p

Mean S.I=3p

3p=p*r*t/100

3=r*t/100

3=(100/6)t/100

3=100t/600

3=t/6

3*6=t

18=t

t=18 year

Finally answer is 18 year