Question

Number of years in which a sum of money treble itself when rate of interest being 5% is​

Answer 1

Answer:

40yrs is the answer I hope it

Answer 2

Given:

A sum of money treble itself when the rate of interest is 5%

To find:

The number of years

Solution:

Let

"P" → the sum of money

"R" → the rate of interest

"T" → the no. of years

The sum of money trebles itself in T years

∴ Amount = 3P

We know,

$\boxed{\bold{Simple\:Interest = \frac{P \times R \times T}{100} }}\\\\\boxed{\bold{Amount = Principal + Simple\:Interest }}$

Therefore, we can form the following equation:

$A - P = \frac{P \times R \times T}{100}$

$\implies 3P - P = \frac{P \times 5\times T}{100}$

$\implies 2P = \frac{P \times 5\times T}{100}$

$\implies 2 = \frac{ 5\times T}{100}$

$\implies T = \frac{100 \times 2}{5}$

$\implies \bold{T = 40\:years}$

Thus, the no. of years is → 40 years.

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