## Question

Download Solution PDF# In how much time will an amount be tripled, at the rate of 25% per annum simple interest ?

## Answer (Detailed Solution Below)

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## Detailed Solution

Download Solution PDF**Given:**

Principal (P) = P

Final Amount (A) = 3P

Rate (r) = 25% per annum

**Formula used:**

Simple Interest (SI) = P × r × t / 100

Final Amount (A) = P + SI

**Calculation:**

3P = P + (P × 25 × t / 100)

⇒ 3P = P + (P × 25t / 100)

⇒ 3P - P = (P × 25t / 100)

⇒ 2P = (P × 25t / 100)

⇒ 2 = 25t / 100

⇒ 2 × 100 = 25t

⇒ 200 = 25t

⇒ t = 200 / 25

⇒ t = 8 years

**∴ The correct answer is option 2.**

Last updated on Oct 30, 2024

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