Question

At what rate percent per annum simple interest will a sum be treble it self in 16years
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Answer 1

Answer:

A sum of money triple itself at 16% p.a. at simple interest in 12.5 years. #Learn more: At what rate percent p.a. will a sum treble itself in 16 years.

Answer 2

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