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  • At what rate per cent per annum will a sum triple itself in 15 years?

At what rate per cent per annum will a sum triple itself in 15 years?

Answers (1)

Principal amount = P
Simple interest case:
  Sum after 15 years = P (1 + 15 r )    = 3 P
       =>  1 + 15 r = 3    =>  r = 2/15  or 200/15 % = 13.33 %
Compound interest case:
  sum after 15 years =  P ( 1 + r )^15  = 3 P
       =>  (1 + r )^15 = 3              1 + r  =  3^1/15  = 1.076 
       => r = 0.076    =  7.6 %

Posted by

Satyajeet Kumar

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