Table of Contents
- 1 How long does it take for a sum of money to triple itself at a simple rate of 5\% per annum?
- 2 In what time will a sum of money will triple itself at the rate of 16 Pa?
- 3 In what time does a sum of money becomes triple the amount at a simple?
- 4 How long will it take to take a sum of money to triple itself at 9.5\% compound interest?
- 5 In what time does a sum of money becomes triple?
- 6 In what time does a sum of money triple?
- 7 How long would it take to Triple £100 to £300?
- 8 How long does it take for the principal to double?
How long does it take for a sum of money to triple itself at a simple rate of 5\% per annum?
Detailed Solution The sum of money triples itself. ∴ The number of years by which a sum will triple itself at 5\% p.a is 40 years.
In what time will a sum of money will triple itself at the rate of 16 Pa?
A sum of money triple itself at 16\% p.a. at simple interest in 12.5 years.
In what time a sum of money will triple itself at simple interest 20\% per annum?
Answer Expert Verified = 10 years . A sum becomes 3 times.
In what time does a sum of money become triple?
A sum of money triples itself in 8 years.
In what time does a sum of money becomes triple the amount at a simple?
So, in further calculations for finding the rate of interest, they will end up with, rate=3×10016⇒18.75\%. But students should read the question carefully to understand that the sum becomes triple, which means the principal amount becomes triple after 16 years.
How long will it take to take a sum of money to triple itself at 9.5\% compound interest?
Rule of 72 tells us at 9.5\%, 72/9.5 = 7.5789 or a little over 7 ½ years to double, so to quadruple it would take 15 years, with this inference we may conclude tripling will be about 11 years.
How long will it take to triple your money?
To compute the exact time required to double up your money, divide 69 by the Annual Interest Rate and then add 0.35 to it. Divide 114 by the Annual Interest Rate to compute the time required to triple your money. For e.g.:- If you Invest 10,000 at 8\% p.a., it will take you 14.25 years (114/8) to triple your money.
How long will it take a sum of money to treble itself at 14 percent?
| Sr. No. | Principal P (Rs.) | Interest I (Rs.) |
|---|---|---|
| 4) | 1200 | 264 |
| 5) | 1600 | 200 |
| 6) | 15000 | 2475 |
| 7) | … | 450 |
In what time does a sum of money becomes triple?
A sum of money triples itself in 8 years. Find the rate of interest.
In what time does a sum of money triple?
How to Triple Your Money in one year?
Therefore, you will need to divide this number by 2 in order get the number of periods. Also, make sure you round up your period value because even if you have 9.0001 years, you will still need that extra 1/2 year to fully triple your money. Alternatively… and the much easier way… is to use a financial calculator.
What is T = 200/15 to Triple the money?
T is time in Years. Now you want to triple the money. That means I = 2P Hence T = 200/15 = 13.33Y or 13Y and 4 months. So the answer for your question is 13Y and 4 months. A simple mathematical approach would solve this for you. Say you need to triple £100. You need x years to get £300. 100 * 0.15 * x = 300 where x is number of years.
How long would it take to Triple £100 to £300?
Say you need to triple £100. You need x years to get £300. 100 * 0.15 * x = 300 where x is number of years. x = 300 / (100*0.15) = 20 years. The simple rule is divide 115 by rate of interest to get the approximate number, which in this case would 115/15=7.7 yrs approx assuming all the interest is compounded annually.
How long does it take for the principal to double?
It would take 277.60 months or 23.13 years for the Principal to double. 8 clever moves when you have $1,000 in the bank. We’ve put together a list of 8 money apps to get you on the path towards a bright financial future. At what time does a sum of money triple itself at the rate if 20\%?