A sum of money doubles itself in 12 years. In how many years would it treble itself ?
Posted on 19-04-2023
Ques - A sum of money doubles itself in 12 years. In how many years would it treble itself ?
(a) 36 years
(b) 18 years
(c) 24 years
(d) 15 years
Solution -
Given,
Principal = P
Amount = 2P (doubles itself)
S.I = Amount - Principal
S.I = 2P - P
S.I = P
T = 12
R = r
S.I = (P×R×T) / 100
P = (P × r × 12) / 100
100P = (P × r × 12)
r = 100/12
r = (25/3)%
Now,
Given,
Principal = P
Amount = 3P (Triples itself)
S.I = Amount - Principal
S.I = 3P - P
S.I = 2P
T = ?
R = (25/3)%
S.I = (P×R×T) / 100
2P = (P × 25/3 × T) / 100
(200 × 3) / 25 = T
T = 24 Years
Therefore,
It would trebles itself in 24 years.
Hence,
The correct answer is option (c) 24 years
Thank You