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How long does it take a sum of money to triple itself at a simple interest rate of 5 per annum?Given: 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 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.
In what time does a sum of money becomes triple times at the simple interest rate of 10% per annum?Now the amount is tripled. So 10+10=20 years.
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In what time a sum of money will triples itself at a rate of simple interest of 4% 50 per annum?
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