Question

If you invest a sum of money at a simple interest of 6%, how long will it take for your original amount to treble (triple)

Answer 1

Answer:

The answer of this question depends on the factor time because for 6%/month it will take 50 months and for 6%/year it will take 50 yrs

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Answer 2

Answer:

33 years 4 months

Step-by-step explanation:

the original amount is 100% so if you want it to be treble you need 200% more, we take 200/6 would leave us with 33.(3) and it must be in years because if 6%/month the total interest after 1 year would be 72%, which is too much. Therefore the correct answer is 33 years and 4 months the original amount will treble