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How long will it take for the sum of money to triple itself at the rate of 20 %?Detailed Solution
Let the sum of money be Rs. P. ∴ The required time is 10 years.
How long does it take for a sum of money to triple itself at a simple interest rate of 5% per annum?Detailed Solution
The sum of money triples itself. ∴ The number of years by which a sum will triple itself at 5% p.a is 40 years.
How long will it take a certain sum of money to triple itself at 10% per annum simple interest?⇒T=x×152x×100=340=13. 3 years.
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How long will it take a certain sum of money to triple itself at 13¹ 3 per annum simple interest?
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