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A certain sum of money doubles itself at simple interest in 8 years. In how many years will it be three times at the same rate

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8 months ago Saurabh Koranglekar
10233 Points
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8 months ago
```							Sum of money = pInterest = r%Time1 = 8yTime2 = t Hence, p×r×8/100 = p [As the money doubles, interest accumulated will be same as the amount of money].=> r=12.5 In the second case, p×r×t/100 = 2p [3p = p+2p(interest)]=> t = 200/r = 16. Hence, required time = 16y.
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7 months ago
```							Let the principle be 100.Then amount will be 200.Interest= 100Time = 8 yrsR=?I=PRT/100100=100*R*8/100100*100/100*8=R100/8=RNOW SUM SHOULD BE 4 TIMES MEANS 400MEANS INTREST ON 100 IS 300.I=PRT/100300=100*100/8*T/100300*8/100=T24= TIN 24 YEARS SUM WILL BECOME 4 TIMES OF PRINCIPLE
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6 months ago
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