Question

A sum of money, put a simple interest trebles itself in 12 years. Find the rate per cent
Solve these :
2​

Answer 1

Answer:

Step-by-step explanation:

Simple Interest formula:

I = P×N×R/100

A=P+I

Where

A - is the total amount after N years

I - is the total interest after N years

N - is the total number of years for which the interest is calculated = 12 years(given)

R - is the rate of interest in percent (%)(per each 100 Rupees) for one year

P - Principal or the sum for which interest is calculated for 12 years

N - No of years = 12

As per question the sum gets trebled in 12 years

I.e.,

A=3P

Substitute this in A = P+I

P+I = 3P

=> I = 3P - P = 2P

Substitute I = 2P in

I = P×N×R/100

P×N×R/100=2P

Divide like terms P on both sides,

N×R/100=2

Multiplying by 100 on both sides,

N×R=200

=> R= 200/N

N= 12 Years

Therefore R = 200/12

Rate of interest

R = 16-2/3 %

Or R = 16.666...%

R ~(approximately) 16.67%