Question

a certain sum of money becomes there times in 12 years by simple interest the rate of interest?​

Answer 1

Answer:

Rate of interest = 50/3 = 16.67 %

Step-by-step explanation:

Let,

principal sum of money, P = p

Amount, A = 3 (principal sum) = 3p

time for Simple interest, t = 12 yrs

and

Let,

rate of interest = R = ?

and, Simple interest in 12yrs = SI = ?

then,

A = P + SI

A = P + (P × R × t)/100

3p = p + (p × R × 12)/100

3p - p = p × R × 12/100

2p = p × R × 12/100

2 = R × 12/100

200 = 12 R

R = 200/12

R = 16.67 %