In how many years will a sum of money treble itself at 5% CI payable annually?
A) 22 B)22 1/2
C) 23 D)23 1/2

• let money=x
  3x=x(1+.05)^n here n=number of year
  3=(1.05)^n
  take log both side
  n=log 3/log 1.05=22.5
  n=22.5 is right ans
• 11 years agoHelpfull: Yes(2) No(0)
• 3P=P(1+(5/100))^n
  3=(21/20)^n
  Put the values of n=1,2,3...
  n=23 the sum of money tripled.
• 11 years agoHelpfull: Yes(1) No(0)