Bill’s age is one third larger than Tracy’s age. In $30$ years Bill’s age will be one eighth larger than Tracy’s age. How many years old is Bill?
1. Let \( b \) be Bill's age and \( t \) be Tracy's age. From the problem, we know that Bill’s age is one third larger than Tracy’s age. This can be written as:
   \[
   b = \frac{4t}{3}
   \]
   This equation comes from the fact that one third larger means \( t + \frac{t}{3} = \frac{4t}{3} \).

2. In 30 years, Bill’s age will be one eighth larger than Tracy’s age. This can be written as:
   \[
   b + 30 = \frac{9(t + 30)}{8}
   \]
   This equation comes from the fact that one eighth larger means \( t + 30 + \frac{t + 30}{8} = \frac{9(t + 30)}{8} \).

3. Substitute the expression for \( b \) from the first equation into the second equation:
   \[
   \frac{4t}{3} + 30 = \frac{9(t + 30)}{8}
   \]

4. To eliminate the fractions, multiply every term by the least common multiple of the denominators, which is 24:
   \[
   24 \left( \frac{4t}{3} + 30 \right) = 24 \left( \frac{9(t + 30)}{8} \right)
   \]
   Simplifying both sides:
   \[
   8 \cdot 4t + 24 \cdot 30 = 3 \cdot 9(t + 30)
   \]
   \[
   32t + 720 = 27(t + 30)
   \]

5. Distribute and simplify:
   \[
   32t + 720 = 27t + 810
   \]

6. Isolate \( t \) by subtracting \( 27t \) from both sides:
   \[
   32t - 27t + 720 = 810
   \]
   \[
   5t + 720 = 810
   \]

7. Subtract 720 from both sides:
   \[
   5t = 90
   \]

8. Solve for \( t \):
   \[
   t = \frac{90}{5} = 18
   \]

9. Substitute \( t = 18 \) back into the first equation to find \( b \):
   \[
   b = \frac{4(18)}{3} = \frac{72}{3} = 24
   \]

The final answer is \(\boxed{24}\).