Question

a certain sum of money triples at a simple interest in 16 years,what would be the rate if interst per annum​

Answer 1

Let sum is x

After 3 years its becomes triple itself then

Amount  = 3x

Interest =3x−x=2x

Time = 16 years

Rate = R

Interest=  

100

PTR

​  

 

⇒2x=  

100

x×16×R

​  

 

⇒R=  

16

2×100

​  

=12.5%