In how many years does a sum of money become three times of itself at the rate of $6\frac{1}{4}$ % simple interest per annum?
In how many years does a sum of money become three times of itself at the rate of $6\frac{1}{4}$ % simple interest per annum?
कितने वर्षों में कोई धनराशि $6\frac{1}{4}$ % वार्षिक साधारण ब्याज की दर से अपने आप का तीन गुना हो जाती है?
Detailed Solution & Logic
32
Let the principal be $P$.
If the sum becomes three times, then amount $A = 3P$.
So, simple interest:
$SI = A - P = 3P - P = 2P$
Using the formula:
$SI = \frac{P \times R \times T}{100}$
Given $R = 6\frac{1}{4} = 6.25%$,
$2P = \frac{P \times 6.25 \times T}{100}$
Cancel $P$:
$2 = \frac{6.25 \times T}{100}$
$T = \frac{2 \times 100}{6.25} = 32$
Answer: 32 years
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