Question

The time by which a sum of money would treble itself at 8% p.a C.I is
(aj 14.28 years (b) 14 years
(c) 12 years
(d) none of these​

Answer 1

The required answer is 14.28 years.

Step-by-step explanation:

Given, Rate of interest = R = 8%

Principal = P

Amount = A = 3P (treble means 3 times of principal)

Time = T in years

By using compound interest formula,

$A = P(1 + \frac{R}{100})^{T}\\\\=> 3P = P (1+\frac{8}{100})^{T}\\\\=> 3 = (1+0.08)^{T}\\\\=> 3 = (1.08)^{T}\\\\=> ln(1.08)^{T} = ln(3)\\\\=> T ln(1.08) = ln(3) \\\\=> T = \frac{ln(3)}{ln(1.08)}$

=> T = 14.28 years

Hence, the required answer is 14.28 years.

Answer 2

P=100; A=300; i=0.08; NOCPPY=1