At what rate per cent per annum simple interest will a sum be treble of itself in 16 years?
Answers
Answered by
36
Hello
Here's your answer
Let sum be x
and rate % be r%
time = 16 years
since x tripled in 16 years
Interest =(3x-x) = 2x
Simple interest= S×R×T/100
2 x = x × 16 × r / 100
r = 50 / 4
r = 12.5%
Hope it helps you
Here's your answer
Let sum be x
and rate % be r%
time = 16 years
since x tripled in 16 years
Interest =(3x-x) = 2x
Simple interest= S×R×T/100
2 x = x × 16 × r / 100
r = 50 / 4
r = 12.5%
Hope it helps you
Answered by
7
Answer:
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Step-by-step explanation:
The simple interest formula is
S= P (1+ i n) = P + inP
In this problem the unknown is n
Solving the above for n
n = (S - P) / (P i)
Given:
S=3P
i = 16% = .16
then
n = (3P - P) / (P .16) = 2 /.16 = 12.5 years
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