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Answer:

A sum of money triple itself at 16% p.a. at simple interest in 12.5 years

Let the sum of money be x

Amount = 3x

Simple interest = Amount - Principal = 3x

X=2x

Rate of interest = 16%

Si = PXT R 100

2x XxTx16 100

200 16 T

12.5 =T

Hence A sum of money triple itself at 16% p.a. at simple interest in 12.5 years

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