A sum of money, lent out at simple interest, doubles itself in $8$ years. Find in how many years will the sum become triple (three times) of itself at the same rate per cent ?

Using the simple interest method, if a sum doubles in 8 years, the interest earned equals the principal. This means the interest for 8 years is 100 percent, making the rate 100 divided by 8, or 12.5 percent per annum. To become triple of itself, the interest must equal twice the principal, which is 200 percent. The time required is 200 divided by 12.5, which is 16 years. The result is 16 years.

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