At what rate per cent per annum simple intrest will a sum treble itself in 16 years ?
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Answer:
12.5%
Step-by-step explanation:
Let Rs x be the sum, then according to question, the amount will be Rs3x. Then simple interest will be,
S.I.=Amount−Principle
=3x−x
=2x
The time is given as 16 years.
S.I.= P×R×T
100
2x= x×R×16
100
R= 2x×100
x×16
R=12.5%
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