Exams › SSC CGL (Prelims) › Maths
If a sum of money doubles in 8 years at simple interest, how long will it take to triple?
- 16 years
- 12 years
- 24 years
- 20 years
Correct answer: 16 years
Solution
If the money doubles in 8 years, the simple interest earned in 8 years equals the principal. To triple the money, the interest must become twice the principal, which will take twice as long. Hence, the required time is 16 years.
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