Let the original principal amount be P.
When the money becomes 3-fold at 4% annual rate:
Final Amount =3P
Interest Earned =3P−P
Interest Earned =2P
Using the simple interest formula where Rate =4% and Time =T years:
Interest=100P×R×T
2P=100P×4×T
2=1004T
200=4T
T=50 years
For the money to become 6-fold in the same time period of 50 years:
Final Amount =6P
Interest Earned =6P−P
Interest Earned =5P
Let the required rate be R%.
5P=100P×R×50
5=10050R
500=50R
R=10%
Therefore, the rate of interest required for the sum to become 6-fold is 10%.