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Discussion :: Simple Interest

  1. A sum of money triples itself in twelve years at simple interest. Find the rate of interest?
    2. A.
    12 1/2 % p.a.
    B.
    14 4/7 % p.a.
    C.
    15 2/3 % p.a.
    D.
    13 3/8 % p.a.
    E.
    None of these

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    Answer : Option E

    Explanation :

    Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest) => Interest = 3x - x = Rs. 2x

    R = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3 %

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