Question

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

Answer 1

Answer:

20 years

Step-by-step explanation:

let, principal = p.

amount = 3p

interest = amount - principal

= 3p - p

= 2p

using formula

$\frac{p \times r \times t}{100} = interest \\ or \: \frac{p \times 10 \times t}{100} = 2p \\ or \: t = \frac{200}{10} = 20$

Answer 2

Answer:

20 years

Step-by-step explanation:

Let principle = x

----.amount. = 3x

----. SI. =. 2x

---- rate of interest =10%

----- time. = t

SI = P×R/100×T

by using this method