Question

At what percent rate per annum simple interest will be a sum of money three times / in 25

years?

Answer 1

Time = 25 years
Principal sum = x
Amount= 3x
Rate =?

Simple Interest = Amount - Principal sum
= 3x - x = 2x

According to the formula,

Simple Interest = (Principal*Time*Rate)/100
2x= x*25*Rate
Rate= 2x/25x
Rate= 0.08 %