Question

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AT WHAT RATE PERCENT TO SIMPLE INTEREST PER ANNUM WILL A SUM OF MONEY TRIPLE IN 6 DAYS??????????


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Answer 1

Answer:

Step-by-step explanation:

Let principle be P

Given,

n = 25 years, A = 3P

A = P + Pnr/ 100

3P = P + [P(25)r]/ 100

3P = P[ 1+ 25r/100]

3 = (100 + 25r) / 100

300 = 100 + 25r

25r = 200

r = 8

Thus rate percent = 8%