Question

In what time at simple interest will a sum of money triple itself at 10% per annum?

• A. 10 years
• B. 20 years
• C. 15 years
• D. 5 years

Hint:

If a sum triples, interest = 2P. Plug into the S.I. formula and solve for time.

Answer 1

The Correct Option is B

Let principal = \(P\) Tripled amount = \(3P\) So, interest = \(3P - P = 2P\) Using simple interest formula: \[ SI = \frac{P \cdot R \cdot T}{100} \Rightarrow 2P = \frac{P \cdot 10 \cdot T}{100} \Rightarrow 2 = \frac{10T}{100} \Rightarrow T = 20 \text{ years} \]