Question

In how many years a sum of money trebles at 5% p.a compound interest payable half yearly basis

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Answer 1

It will Take 44.5  Years to amount get Tripled at 5 % pa compounded half Yearly

Step-by-step explanation:

Let say Principle = P

it becomes triple =>  Amount = 3P

Rate of interest = 5 % per Annun

=> 5/2 = 2.5 % half Yearly Basis

Late say in  n Years it become triple

then 2n half Years

Now Applying  CI formula

3P = P ( 1 + 2.5/100)²ⁿ

=> 3 = ( 1.025)ⁿ

Taking log both sides

=> log 3 = n log 1.025

=> n = 44.5

It will Take 44.5  Years to amount get Tripled at 5 % pa compounded half Yearly

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