Question

At what rate percent per annum simple interest will a sum of money triple itself in 25 yeats

Answer 1

Given "At what rate percent per annum simple interest will a sum of money triple itself in 25 years"

We know that
Simple interest (inclusive of Principal amount) = p(1+in)

where P=Principal Amount, i= rate of interest Per annum, n= no.of years.

Given Years = n = 25

At What rate percent Per annum simple interest will a sum of money triple itself in 25 years..so P Will become 3P after 25 years..we can write this in the form of

P(1+in) = 3P

subsitute n = 25

P(1+i×25) = 3P

Cancellation of P on both sides..

1+ 25i = 3

25i = 3-1

25i = 2

i = 2/25

i= 0.08 or 8% is the rate at which a sum of money triple itself in 25 years