Question

in what time a sum of money triple itself at 8% par year​

Answer 1

Answer:

According to question,

let the some of money be x

then amount will be 3x

rate = 8%

let time be t

then, A = P + I

or, 3x = x + (x * 8 * t)/100

or, 2x = 8xt/100

or, 8xt = 200x

or, t = 200x/8x

or, t  = 25yrs (Ans)