how long will it take for A sum of money to become $3 times itself at an interest rate of $10 per annum?
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Step-by-step explanation:
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Answer:
20 yrs
Step-by-step explanation:
Let the principle be 'p'
Amount = '3p'
No: of years be 't'
Amt = Principle + Interest
Interest = Amt - principle
Interest = 3p - p
Interest = 2p
SI = (p × i × t)/t
2p = (p × 10 × t)/100
200p = (10pt)
200 = 10t
⇒ t = 20 yrs
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