Question

At what rate of simple interest will the principal amount be three times as amount in 8 years? *At what rate of simple interest will the principal amount be three times as amount in 8 years? *

Answer 1

Step-by-step explanation:

ABC limited is a well known company in telecom sector in India .The company is committed

to treat everyone fairly, with respect and dignity regardless of differences in positions ,age,

caste, creed gender or otherwise. It endeavors to foster a participatory work environment

where trust and confidence between team members is spontaneous. It not only abides by all

the laws governing in India but is also fully committed to achieving and participating in every

conceivable way in the progress and integrity of the nation.it constantly reviews and devices all

its print and electronic promotional materials like advertisements brochures etc. to make sure

that they are clear, precise and free from any kind of Mis- representation .The company.

THANKS

Answer 2

Answer:

Let,

P = Principal

r = rate of interest

t = time (in years)

Using the notation above, the problem statement can be written as:

Final amount = Principal + Interest

3P = P + P*r*t

=> 3 = 1 + r*8

=> r = 0.25 or 25%

Let's check this with an example.

Suppose you have ₹1000 as principal. You receive 25% p.a. as simple interest which would amount to ₹250 p.a. In eight years, you would have received ₹250 x 8 = ₹2000. Add to this your principal and you get ₹3000 which is thrice of your principal.