I've found that many ships hit with one torpedo will sink - eventually. The problem is, especially with convoy attacks, that you really can't wait around and see if it did the job. Too often it takes 30 minutes or more for a ship to sink, and by then you should be at depth leaving the area. The ship might sink, but then again it might just sail off with the convoy.
A sunk ship is better than a damaged ship. Two hits will put down just about any ship. I pick the high-value assets and give each one 2 eels.
Steve
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