Question

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Answer 1

Question:

At 10% rate of simple interest per annum in how much time would an amount triple itself.

Answer:

20yrs.

Step-by-step explanation:

Given:

• Rate = 10%

To find:

• Time it would take to triple principal

Procedure:

Let's assume principal to be x

Then , after tripling it , we will get 3x

We know ,

SI = AMOUNT - PRINCIPAL

$\ \ \ \ \ \implies \sf \: \ \ \ \ \ SI = x - 3$

$\ \ \ \ \ \implies \sf \: \ \ \ \ \ SI = 2x$

We now know that SI = 2x

Now, finding time.

$\: \: \: \: \: \: \: \: \implies \sf \: time = \dfrac{100 + si}{p \times r}$

$\: \: \: \: \: \: \: \: \implies \sf \: time = \dfrac{100 + 2x}{x \times 10}$

$\: \: \: \: \: \: \: \: \implies \sf \: time = 10 \times 2$

$\: \: \: \: \: \: \: \: \implies \sf \: time = 20years$

We obtain time as 20 years.

What's all?

• Simple interest is the charge of loan after specific amount of time.

• Simple interest is given by multiplying principle , rate percentage and time.

• There is another entity called Compound interest. Let's go through a quick differentiation of two! Compound Interest is calculated on entire amount . while Simple interest is calculated on principle.