Multiple choice

A sum of money at simple interest becomes 1.5 times of itself in 3 years. In how many years will the same treble itself?

  1. 10 years

  2. 11 years

  3. 12 years

  4. 13 years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

SI = A - P = 0.5P. 0.5P = P * R * 3 / 100. R = 50/3%. To treble, A = 3P, so SI = 2P. 2P = P * (50/3) * T / 100. 2 = (50 * T) / 300. 2 = T / 6. T = 12.

AI explanation

Using the simple interest formula, the interest for 3 years is 1.5 times the principal minus the principal, yielding an interest equal to 0.5 times the principal. This means the interest equals the principal in 6 years, so for the sum to treble itself (an interest twice the principal), it takes 12 years.

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