## Answers

Solution: 15 years

Working:

Let p be 100; thus triple amount be 100 * 3 = 300

300 = 100 ( 1 + 7.6/100)^n

3 = 1.076^n

log 3 = n log 1.076

n = log 3 / log 1.076 = 0.4771 / 0.03181 = 15 years

As per policy we have to answer first question

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