A sum of money doubles itself in 8 years at simple interest. In how many years will it become three times itself at the same rate?

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Accepted Answer

16. Doubling means the interest equals the principal in 8 years (12.5% per year). Tripling needs interest of twice the principal, i.e. 200% ÷ 12.5% = 16 years.

A sum of money doubles itself in 8 years at simple interest. In how many years will it become three times itself at the same rate?

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