In How Many Year will be Treble? If
The right answer is 32 years which is not given in any option.
Answer: (2) 24 years
Let be the principal is P and rate is R.
Simple Interest = P x R x T/100
Where, P – principal, R – rate & T – time.
According to the question,
P = P x R x 16/100
R = 100/16
R = 25/4 %
If the amount is triple of the principal,
Then, S I = 3 P – P = 2 P
2 P = P x 25 x T/4 x 100
400 x 2 = T x 25
T = 32 years.
Hence, the answer is 32 years.