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Question

A sum of money, lent out at simple interest, doubles itself in 8 years. Find:
(i) the rate of interest
(ii) in how many years will the sum become triple (three times) of itself at the same rate per cent?


Solution

Let P=Rs. 100 A=Rs. 200
I= Rs. 200 -Rs. 100 =Rs. 100, T= 8 years
R=100×IP×T=100×100100×8=1008=252%
Now again P= Rs. 100
A=Rs. 300 I=Rs. 300-Rs. 100
=Rs. 200
R=252 %
T=100×IP×R=100×200100×252=100×200×2100×25=16years
So the given sum of money will become triple in 16 years.


Mathematics
Concise Mathematics
Standard VIII

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