At what simple interest rate will the amount of money be triple within 10 years


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At what simple interest rate will the amount of money be triple within 10 years

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A sum of money at simple inter...

Updated On: 27-06-2022

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40 years 36 years 30 years 25 years

Answer

Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams.

643431067

200

5.5 K

2:28

A sum of money becomes 5 times of itself in 5 years at simple interest. In what time it will becomes 7 times of itself.

647366694

300

6.8 K

1:31

A sum of money invested at simple interest triples itself in 8 years. How many times will it become in 20 years time?

645951239

200

3.1 K

3:17

A sum of money triples itself in 3 years at compound interest. In how many years will it become 9 times itself ?

41017755

1.6 K

7.1 K

3:17

A sum of money triples itself in 3 years at compound interest. In how many years will it become 9 times itself ?

645951189

73

8.3 K

2:57

A sum of money invested at compound interest triples itself in five years. In how many years will it become 27 times itself at the same rate of compound interest ?

41017697

100

2.5 K

2:57

A sum of money invested at compound interest triples itself in five years. In how many years will it become 27 times itself at the same rate of compound interest ?

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What is the interest rate that will triple the investment in 10 years?

Therefore, the interest rate that will triple the investment is 11.61%.

At what time at simple interest will a sum of money triples itself at 10?

⇒T=x×152x×100=340=13. 3 years.

At what rate of simple interest will be doubled in 10 years?

As we know the simple interest means principle amount subtracted from final amount i.e. Hence the required rate in which the sum becomes double itself in 10 years is 10%.