Question

AT WHAT RATE PERCENT PER ANNUM SIMPLE INTEREST WILL A SUM TREBLE ITSELF IN 16 YEARS?​

Answer 1

Answer:

Explanation:

Let, the SUM = X and RATE = r%.

TIME (t) = 16 years.

Since, X tripled in 16 years,

INTEREST (I) = Rs (3X - X) = Rs 2X.

Now,

I = (S × t × r) / 100

2X = (X × 16 × r) / 100

r = 50/4

▶▶ Rate = 12.5%