Question

In how many years will a sum of money becomes triple at 10% per annum compound interest?

Answer 1

Answer:

20 years

Explanation:

Let sum = Rs.P, rate (R) = 10% 

Amount due in 1 years = Rs.3P 

Therefore, Simple interest = Rs.3P - Rs.P = Rs.2P 

Time = S.I.×100/P×R

= 2P×100/P*10

= 20 Years