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Solution Let the principal ( P ) = Rs x Amount = A = Rs 3x Simple interest ( I ) = A - P I = 3x - x I = 2x Rate of interest ( R ) = 40/3 % Let time = T years PTR/ 100 = I T = ( 100 I ) / PR = ( 100 × 2x ) / ( x × 40/3 ) = ( 100 × 2 × 3 ) / 40 = 15 Therefore , T = 15 years I hope this helps you. Get the answer to your homework problem. Start your 7-day free trial and save 40% on your first month! TS Trent S. MB Mark B. Algebra 9 months, 3 weeks ago DiscussionYou must be signed in to discuss. Video TranscriptNo transcript available Did you know? Numerade has step-by-step video solutions, matched directly to more than +2,000 textbooks. Find Your Textbook Top Algebra Educators
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01:32 Absolute Value - Example 1 In mathematics, the absolute value or modulus |x| of a real number x is its numerical value without regard to its sign. The absolute value of a number may be thought of as its distance from zero along a number line; this interpretation is analogous to the distance function assigned to a real number in the real number system. For example, the absolute value of ?4 is 4, and the absolute value of 4 is 4, both without regard to sign.
01:11 Absolute Value - Example 2 In mathematics, the absolute value or modulus |x| of a real number x is its numerical value without regard to its sign. The absolute value of a number may be thought of as its distance from zero along a number line; this interpretation is analogous to the distance function assigned to a real number in the real number system. For example, the absolute value of ?4 is 4, and the absolute value of 4 is 4, both without regard to sign. Join Course Recommended Videos01:26 Growth of an Account How long will it take an investment to triple if interest is compounded continuously at $5 \% ?$ 03:14 How long does it take 5,000 dollar to earn a total interest of 600 dollar if the annual simple interest rate is $4 \% ?$ 03:12 A savings account earning compound interest triples in value in 10 years. How long will it take for the original investment to quadruple? 02:24 How long will it take $\$ 10,000$ to triple if it is invested in a savings account that pays $5.5 \%$ annual interest compounded continuously? Rou… Additional Mathematics questions00:40 The quality control manager of Marilyn"$ Cookies is inspecting batch of… 01:44 Find the indicated term of the geometric sequence. 06:23 For 10 observations on price (P) and supply (S) the following data were obta… 02:45 Example 5 04:56 A trapezoid has parallel sides 13 cm and 21 cm respectively: The longer of t… 02:31 4-Digit Lock A radar beam is used to determine the height of a jet traveling… 01:00 An exterior angle Ofan isoceles triangle has measure 136- If thextenior angl… 00:55 Esdne
Oe In what time a sum of money will triple itself at a rate of simple interest of 4% per annum?⇒T=x×152x×100=340=13. 3 years.
How long will it take for the sum of money to triple itself at the rate of 20 %?Detailed Solution
Let the sum of money be Rs. P. ∴ The required time is 10 years.
How long does it take a given amount of money to triple itself if the money is invested at a nominal interest rate of 12% compounded monthly?Answer: Approximately 13.5 years to triple. Make a note that doubling or tripling time is independent of the principal. In the previous problem, notice that the principal was not given and that the variable P cancelled.
How long will it take to double your money at 5% per year simple interest?According to the Rule of 72, it would take about 14.4 years to double your money at 5% per year.
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How long does it take a sum of money to triple itself at a simple interest rate of 5 per annum?
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