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Discussion

  1. At what rate percent per annum simple interest , will a sum of money triple itself in 25 year?
    1. 8%
    2. 5%
    3. 6%
    4. 12 %
  1. Correct Option: A

    Let principal amount = P
    As amount =3P, T=25 yr
    ∴ SI=3P-P=2P
    ∴ Rate R = (100 x SI)/(P x T)
    where, SI= Simple Interest T = Time
    = (100 x 2P)/(P x 25)=8%


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