In how many years will a sum of money triple itself if the rate of interest is $30 %$ .

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Solution

$S t e p 1 :$ calculate the simple interest.
let the principal be $P$ then, amount will be $3 P$ .
$S I = 3 P - P = 2 P R = 30 % S t e p 2 : c a l c u l a t e t h e t i m e . T = \frac{S I \times 100}{P \times R} = \frac{2 P \times 100}{P \times 30} = \frac{20}{3} Y = 6 \frac{2}{3} Y$

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In how many years will a sum of money triple itself if the rate of interest is 30%.

Step1:calculate the simple interest.let the principal be P then, amount will be 3P.SI=3P-P=2PR=30%Step2:calculatethetime.T=SI×100P×R=2P×100P×30=203Y=623Y

In how many years will a sum of money triple itself if the rate of interest is $30 %$ .

$S t e p 1 :$ calculate the simple interest.
let the principal be $P$ then, amount will be $3 P$ .
$S I = 3 P - P = 2 P R = 30 % S t e p 2 : c a l c u l a t e t h e t i m e . T = \frac{S I \times 100}{P \times R} = \frac{2 P \times 100}{P \times 30} = \frac{20}{3} Y = 6 \frac{2}{3} Y$