Multiple choice

A sum doubles itself in 16 years, then in how many years will it triple itself, rate of interest being simple.

  1. 32 years

  2. 24 years

  3. 48 years

  4. 64 years
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A Correct answer
Explanation

If a sum doubles in 16 years at simple interest, then the interest equals the principal in 16 years. So rate = (100% / 16) = 6.25% per year. To triple the sum, we need 200% interest (principal + 100% more). Time needed = 200% / 6.25% = 32 years. Alternatively, doubling time × 2 = 16 × 2 = 32 years for triple at simple interest.

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