In how many years will a sum of money become sixteen times itself at 30% p.a. simple interest?

Let the principal sum of money be P.
The amount becomes 16 times itself, so Amount (A)=16P.

Calculate the Simple Interest (SI) earned:

SI=A−P=16P−P=15P
Use the Simple Interest formula to find Time (T):

SI=
100
P×R×T
​

Given Rate of Interest (R) = 30% p.a.

15P=
100
P×30×T
​

Solve for T:

15=
100
30×T
​

15=
10
3T
​

3T=150⟹T=
3
150
​
=50 years
Thus, the sum will become 16 times itself in 50 years.