A sum of money (P) doubles in 10 years. In how many years it will be triples at the same rate of simple interest?
Question
Solution 1
The problem is based on the formula for simple interest, which is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time.
Given that the sum of money doubles in 10 years, this means that the interest earned in 10 years is equal to the principal amo Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
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