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In what time will a sum of money put at 15% simple interest triple itself?
- a)
- b)12 years
- c)20 year
- d)None of these
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
In what time will a sum of money put at 15% simple interest triple its...
The formula for simple interest calculation is -
1 = P*R*T/100
Where l is interest
P is principal of amount
R is rate of the interest
T is time of years
Now we have to tripe the money that means l =2p
Hence 2p = P*R*T/100
2*100 = 15*7
Hence 7 = 200/15 = 13.3y or 13y and 4 months
so the answer for the question is 13y and 4 months .
1 = P*R*T/100
Where l is interest
P is principal of amount
R is rate of the interest
T is time of years
Now we have to tripe the money that means l =2p
Hence 2p = P*R*T/100
2*100 = 15*7
Hence 7 = 200/15 = 13.3y or 13y and 4 months
so the answer for the question is 13y and 4 months .
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Community Answer
In what time will a sum of money put at 15% simple interest triple its...
20 years
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