Question

A sum of money becomes triple in 12 years. find out the rate of interest​

Answer 1

Given

Sum of money becomes triple in 12 years

We Find

The rate of interest

We Know

Let the sum of money be x

Time is 12 years

After 12 years it triples, So it becomes 3x

So the simple interest is 3x − x = 2x

According to the question

Let, the rate of interest be y

$= \frac{x \times y \times 12}{100} = 2x \\ \\ or \: y = \frac{200}{12}$

$\boxed {\red{y = 16.66\%}}$

Hence, The rate of interest is 17 % ( Approximately )

Answer 2

Step-by-step explanation:

Given

Sum of money becomes triple in 12 years

We Find

The rate of interest

We Know

Let the sum of money be x

Time is 12 years

After 12 years it triples, So it becomes 3x

So the simple interest is 3x − x = 2x

According to the question

Let, the rate of interest be y

\begin{gathered} = \frac{x \times y \times 12}{100} = 2x \\ \\ or \: y = \frac{200}{12} \\ \\ \end{gathered}

=

100

x×y×12

=2x

ory=

12

200

\boxed {\red{y = 16.66\%}}

y=16.66%

Hence, The rate of interest is 17 % ( Approximately )