At simple interest, a sum becomes 3 times in 20 yr. Find the time, in which the sum will be double at the same rate of interest.

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Accepted Answer

Here, n = 3, m = 2, T1 = 20 yr ∴ T2 = [(m -1) / (n - 1)] x T1 = (2 - 1) / (3 - 1) x 20 = 10 yr

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