A sum of money triples itself in 8years find the rate of simple interest.
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let that sum (principle) be x
Amount will be 3x then.
so, interest=3x-x=2x in 8 yr
so, interest per year=2x/8=1/4 x
so, rate of SI =interest /principle=1/4x /x =25 %
Thank.
Amount will be 3x then.
so, interest=3x-x=2x in 8 yr
so, interest per year=2x/8=1/4 x
so, rate of SI =interest /principle=1/4x /x =25 %
Thank.
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