In what time will a sum of money triple itself at the rate of 16%pa?pl

1.	In what time will a sum of money triple itself at the rate of 16%pa?please solve and answer❌❌❌ no spam or I'll report
Answer» <P>Answer: simple interest formula is S= P (1+ i n) = P + inP In this PROBLEM the UNKNOWN is n Solving the above for n n = (S - P) / (P i) Given: S=3P i = 16% = .16 then n = (3P - P) / (P .16) = 2 /.16 = 12.5 Hope it helps..

In what time will a sum of money triple itself at the rate of 16%pa?please solve and answer❌❌❌ no spam or I'll report

Answer»

<P>Answer:

simple interest formula is

S= P (1+ i n) = P + inP

In this PROBLEM the UNKNOWN is n

Solving the above for n

n = (S - P) / (P i)

Given:

S=3P

i = 16% = .16

then

n = (3P - P) / (P .16) = 2 /.16 = 12.5

Hope it helps..