Question

A certain sum of money is invested on simple interest. it is trebles in 10 years,what is the rate of interest

Answer 1

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Answer 2

$Let \: Principal = Rs \: P$

$Time (T) = 10 \: years ,\\Amount (A) = Rs \: 3P,\\Let\: Simple \: Interest = I$

$Let \:Rate \:of \: Interest = R$

$Simple \: Interest = A - P$

$\implies I = 3P - P = 2P$

$\boxed { \pink { R= \frac{ 100 \times I }{ PT } }}$

$\implies R = \frac{ 100 \times 2P }{ P \times 10} \\= 20 \%$

Therefore.,

$\red { Rate \:of \: Interest } \green { = 20 \%}$

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