A sum of money invested at simple interest triples itself in 8 years and becomes n times in 20 years. What is the value of n?

Explanation

Tripling means earning an interest of 2P in 8 years. So, interest per year is \frac{2P}{8} = 0.25P. In 20 years, interest earned = 0.25P \times 20 = 5P. Total amount = P + 5P = 6P. Thus, n = 6.

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