Question

at what rate percent will the amount becomes triple itself in 6 years?​

Answer 1

Answer:

hello there!

Step-by-step explanation:

Question:. at what rate percent will the amount becomes triple itself in 6 years?

Solution:

Given :

Time period (T) = 6 years

Let, Your Amount be = A

[ For , tripling your amount ,

you need Simple interest (S.I ) twice the sum i.e, (A) ]

Therefore,

=> S.I = P×R×T / 100

ᐷ 2A = A × R × 6 /100

ᐷ. R = 200 /6

ᐷ. Rate = 33.34%

Note : This solution is done with respect to the money invested through Simple Interest and not through Compound Interest.

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Hope it helps

Thank you!

Answer 2

Answer

Let principal be = x

Amount = 3x

Simple Interest = Amount - principal

= 2x

Time = 6 years

SI = PRT/100

2x = 6Rx/100

R = 200/6

R = 33.34 %