Question

A sum of money put at simple interest trebles itself in 15 years

Answer 1

Answer:

Rate of interest is 13.33 %

Step-by-step explanation:

Formula used:

$Simple\:interest=\frac{P\:n\:r}{100}$

Let P be the principal and r be the rate of interest.

As per given data,

Simple interest = 2P

$\frac{P\:n\:r}{100}=2P$

$\frac{15*r}{100}=2$

$\frac{3r}{20}=2$

$3r=40$

$r=\frac{40}{3}$

$r=13.33$%