How much money will be thrice by the rate of 5% interest
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2.8571428 rs would become thrice by 5%
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Solution :
Let the principal = p
Amount (A) = 3p
Rate of interest (r) = 5%
Let the time = t years
p( 1 + tr/100 ) = A
=> p[ 1 + ( t × 5 )/100 ] = 3p
=> 1 + t/20 = 3p/p
=> t/20 = 3 - 1
=> t/20 = 2
=> t = 40 years
••••
Let the principal = p
Amount (A) = 3p
Rate of interest (r) = 5%
Let the time = t years
p( 1 + tr/100 ) = A
=> p[ 1 + ( t × 5 )/100 ] = 3p
=> 1 + t/20 = 3p/p
=> t/20 = 3 - 1
=> t/20 = 2
=> t = 40 years
••••
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