A sum of money triples itself in 8 years find the rate of interest
Answers
Answered by
146
let the principle be x
amount=3x
SI=3x-x=2x
time=8yrs
SI=PRT/100
2x=x*R*8/100=25%
the rate of interest is 25%
amount=3x
SI=3x-x=2x
time=8yrs
SI=PRT/100
2x=x*R*8/100=25%
the rate of interest is 25%
Answered by
44
Answer: 25% is the rate of interest when principal amount triples in 8 years.
Formula: Interest =
where P – principal, N – number of years, R – rate of interest.
Given the money triples itself = 3P
Solution:
Hence the original interest of money we get = 3P – P = 2P
Simple Interest =
The rate of interest is 25% where the principal amount triples itself.
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