The problem states that a certain sum of money triples in 3 years due to simple interest. This means that the interest accrued over 3 years is twice the original sum.

Let's denote the original sum as P and the rate of interest as r (in percent). According to the formula for simple interest, I = P*r*t/100, where I is the interest, r is the rate, and t is the time.

In this case, the interest I is twice the original sum, or 2P, and the time t is 3 years. So we have:

2P = P*r*3/100
2 = r*3/100
r = 200/3 %

Now, we want to find out how long it will take for the sum to become 6 times itself. This means the interest accrued will be 5 times the original sum, or 5P.

We use the simple interest formula again:

5P = P*r*t/100
5 = (200/3)*t/100
t = 5*100*3/200
t = 7.5 years

So, it will take 7.5 years for the sum to become 6 times itself at the same rate of interest.

Question

The problem states that a certain sum of money triples in 3 years due to simple interest. This means that the interest accrued over 3 years is twice the original sum.

Let's denote the original sum as P and the rate of interest as r (in percent). According to the formula for simple interest, I = P*r*t/100, where I is the interest, r is the rate, and t is the time.

In this case, the interest I is twice the original sum, or 2P, and the time t is 3 years. So we have:

2P = P*r*3/100
2 = r*3/100
r = 200/3 %

Now, we want to find out how long it will take for the sum to become 6 times itself. This means the interest accrued will be 5 times the original sum, or 5P.

We use the simple interest formula again:

5P = P*r*t/100
5 = (200/3)*t/100
t = 5*100*3/200
t = 7.5 years

So, it will take 7.5 years for the sum to become 6 times itself at the same rate of interest.

Knowee AI · Accepted Answer

The problem states that a certain sum of money triples in 3 years due to simple interest. This means that the interest accrued over 3 years is twice the original sum.

Let's denote the original sum as P and the rate of interest as r (in percent). According to the formula for simple interest, I = P*r*t/100, where I is the interest, r is the rate, and t is the time.

In this case, the interest I is twice the original sum, or 2P, and the time t is 3 years. So we have:

2P = P*r*3/100
2 = r*3/100
r = 200/3 %

Now, we want to find out how long it will take for the sum to become 6 times itself. This means the interest accrued will be 5 times the original sum, or 5P.

We use the simple interest formula again:

5P = P*r*t/100
5 = (200/3)*t/100
t = 5*100*3/200
t = 7.5 years

So, it will take 7.5 years for the sum to become 6 times itself at the same rate of interest.

A certain sum of money becomes 3 times itself in 3 years at a certain rate of simple interest. In how many years will it become 6 times itself at the same rate of interest?

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