Question

in what time will a sum of money put at 13 1/3% simple interest triple itself

Answer 1

Let principal amount, P = 100

Then, Simple Interest, SI = 200

Rate, R = 15%

Time, T = ?

Now,

SI = (P×T×R)÷100

200 = (100×T×15)÷100

T = 13.33 Years

Answer 2

A sum of money put at 13 1/3% simple interest triple itself in 15 years

Step-by-step explanation:

Let the sum be x

Amount = 3x

Simple interest = 3x-x = 2x

Rate of interest = $13\frac{1}{3} = \frac{40}{3}\%$

$SI=\frac{P \times T \times R}{100} \\2x=\frac{x \times T \times \frac{40}{3}}{100} \\\frac{200 \times 3}{40}=T$

15=T

Hence a sum of money put at 13 1/3% simple interest triple itself in 15 years

#Learn more:

In what time will a sum of money put at 15% simple interest triple itself?

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