Shaun invests a certain sum of money at 18.75% p.a. simple interest. After how many years will the sum of money become three times its principal?	Select
A) 10 years, 6 months, 20 days	B) 10 years 8 months	C) 10 years 9 months	D) 12 years	E) 16 years
Solution:   B=A[1+ (tr/100)]; where A is principal amount, B final amount, t time in years and r interest rate   after putting the values 18.75= 75/4   3= [1+(75t/400)]   t= 32/3 which is (30+2)/3= 10 + 2/3 means 10 years and   (12*2)/3= 
<gadget id="calculator">  (12*2)/3</gadget>
<output>8</output>
8 months.   total time 10 years 8 months   Ans: 10 years 8 months
<result>B</result>
Shaun invests a certain sum of money at 18.75% p.a. simple interest. After how many years will the sum of money become three times its principal?