A sum of money doubles itself in 8 years. In | vedclass

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Question

(A) Let the principal amount be $P$ and the rate of simple interest be $R$ percent per annum.
According to the problem,the amount doubles in $8$ year

Vedclass · Accepted Answer

$16$

Vedclass · Answer

(A) Let the principal amount be $P$ and the rate of simple interest be $R$ percent per annum.
According to the problem,the amount doubles in $8$ years,so the simple interest $SI = P$.
Using the formula $SI = \frac{P 	imes R 	imes T}{100}$,we have $P = \frac{P 	imes R 	imes 8}{100}$,which gives $R = 12.5\%$.
Now,we want the sum to treble,which means the amount becomes $3P$,so the simple interest $SI = 3P - P = 2P$.
Using the formula $2P = \frac{P 	imes 12.5 	imes T^{\prime}}{100}$,we get $2 = \frac{12.5 	imes T^{\prime}}{100}$.
$T^{\prime} = \frac{200}{12.5} = 16$ years.
Thus,the sum will treble in $16$ years.

$A$ sum of money doubles itself in $8$ years. In how many years will it treble?

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