Q.A principal amount doubles in 20 years at a certain simple interest rate. At the same rate of simple interest, the time required for the principal to become three times will be: (a) 30 Years (b) 35 Years (c) 40 Years (d) 45 Years
Answer: C
If the principal doubles, the interest on ₹100 for 20 years is ₹100.
For the principal to become three times, the interest on ₹100 must be ₹200.
\(\therefore\) Time required \(=\cfrac{20\times 200}{100}\) years = \(40\) years
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