a sum of money trebles itself in 20 years at simple interest . find the rate of the interest
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let sum be x
amount = 3x
si = 3x -x = 2x
rate= 2x×100/x×20
10%
amount = 3x
si = 3x -x = 2x
rate= 2x×100/x×20
10%
Answered by
1
Concept
The method of computing interest on a given principle amount of money is known as simple interest (S.I.)
Given
Given that a sum of money trebles itself in 20 years at simple interest
Find
We need to find the rate of the interest.
Solution
Let principal be x , rate of interest be I and time = 20 years
Amount = 3x as it trebles
So the interest = 3x-x = 2x
Now the percentage rate of 20 years
( I = PRN /100)
2 = 20/100*R
Therefore
2*100 / 20 = R
100/10 = R
Therefore R = 10
Hence the rate of interest is 10%
#SPJ2
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