Question

At what rate will simple imterest triple itself in 20years

Answer 1

Answer:

10% p.a.

Step-by-step explanation:

With simple interest, the amount A after n years at rate R per annum, starting with principal P, is

A = ( 1 + nR ) P.

We need A = 3P (tripling the principal).

So 1 + nR = 3.

We have n = 20.

So

1 + 20R = 3

=> 20R = 2

=> R = 2 / 20 = 1 / 10 = 10%.