Question

In what time will a sum of money triple itself at the rate of 16%pa?

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Answer 1

Answer:

A sum of money triple itself at 16% p.a. at simple interest in 12.5 years

Step-by-step explanation:

Let the sum of money be x

Amount = 3x

Simple interest = Amount - Principal = 3x

X=2x

Rate of interest = 16%

Si = PXT R 100

2x XxTx16 100

200 16 T

12.5 =T

Hence A sum of money triple itself at 16% p.a. at simple interest in 12.5 years

Answer 2

$\bf{ : \implies Let \: the \: sum \: of \: money \: be \: x} \\ </p><p> \bf{: \implies Amount = 3x} \\ </p><p> \bf{: \implies Simple \: interest = Amount - Principal = 3x-x=2x} \\ </p><p> \bf{: \implies Rate \: of \: interest = 16\%}$

$\bf{: \implies si = \frac{p \times t \times r}{100} } \\ \bf{: \implies 2x = \frac{x \times t \times 16}{100} } \\ \bf{: \implies \frac{200}{16} = t} \\ \boxed{\mathfrak{12.5 = t}}$

Hence A sum of money triple itself at 16% p.a. at simple interest in 12.5 years