Multiple choice

A sum of money lent by Hari at simple interest becomes double of itself in 8 years. Then the sum will trible itself in

  1. 16 years

  2. 15 years

  3. 20 years

  4. 24 years
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A Correct answer
Explanation

If the sum doubles in 8 years, the simple interest earned in 8 years equals the principal. To become triple, the interest must equal twice the principal, which takes twice as long, or 16 years.

AI explanation

If a sum doubles in 8 years under simple interest, the interest earned equals the principal itself. Using the simple interest formula, the rate is 100 percent divided by 8 years, yielding 12.5 percent per annum. For the sum to triple, the interest must equal twice the principal, which requires a total time of 2 divided by 0.125, resulting in 16 years.

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