Question

at what rate percent to simple interest will a simple interest become 0.75 times of itself in 20 years?​

Answer 1

Answer:

Step-by-step explanation:

I = P*R*T÷100

Where I is interest.

P is Principle amount

R is rate of interest

T is time in years.

From your question, money becomes 3 times, it means, interest itself is Twice of P here. So,

2P = P*R*20/100

Hence R = 2P*100/20P = 10%

Now making your money double needs only 10Y.

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