Question

# Calculate the time required for the principal to triple itself at the rate of 15% per annum simple interest.

Hint:

### Use the formula of total amount and from that find the time period.

## The correct answer is: 13.33 Years

### Complete step by step solution:

Formula for total amount = A = P + S.I,

where A is the total amount, P is the principal amount and SI is simple interest .

We know that

So, …(i)

Here, let the principal amount = P

So, the total sum is triple the principal amount = A = 3P

It is given that the rate of interest R =

On substituting the known values in (i) we get,

Subtract from both sides.

On subtracting, we get

On further simplifications, we get 15T = 200

Divide by 15 on both sides.

On dividing, we get T = 13.33 years.

Hence it takes 13.33 years for the principal amount to triple itself at the rate of 15% per annum simple interest.

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