A sum of money doubles itself in 8 years at some rate of simple interest. In how many years would it triple itself? - Quantitative Aptitude MCQ Competitive Exams 2026 | ExamTest.live | ExamTest.live

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A sum of money doubles itself in 8 years at some rate of simple interest. In how many years would it triple itself?

A $16 years$
B $12 years$
C $15 years$
D $14 years$

Solution & Step-by-step Explanation

Let the principal be P . Case 1: The sum doubles itself in 8 years. Amount (A_{1}) = 2 P Simple Interest (SI_{1}) = A_{1} - P = 2 P - P = P We know that SI = \frac{P \times R \times T}{100} . P = \frac{P \times R \times 8}{100} ⟹ R = \frac{100}{8} = 12.5% per annum Case 2: The sum triples itself. Amount (A_{2}) = 3 P Simple Interest (SI_{2}) = A_{2} - P = 3 P - P = 2 P Using the same rate of interest R = 12.5% : SI_{2} = \frac{P \times R \times T _{2}}{100} 2 P = \frac{P \times 12.5 \times T _{2}}{100} 2 = \frac{12.5 \times T _{2}}{100} ⟹ T_{2} = \frac{200}{12.5} = 16 years

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A sum of money doubles itself in 8 years at some rate of simple interest. In how many years would it triple itself?

A

16 years

B

12 years

C

15 years

D

14 years

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