A sum of money at simple interest becomes 8 times of itself in 3 years.

(i) In how much time it will become 64 times of itself?

(ii) Find the Interest rate also.

27 years; \(\frac{700}{3}\)%

P : A = 1 : 8

Interest = 7

rate = \(\frac{7}{3}\) x 100 = \(\frac{700}{3}\) %

P : A = 1 : 64

Interest = 63

time = \(\frac{63 x 3}{700}\) x 100 = 27 years