Question 121

The rate of simple interest at which a sum of money becomes three times in 25 years is :

Solution

Let the rate of interest be r%

as the money is becoming 3 times the investment in 25 years it means we are generating an interest of 2times the principal amount in 25 years

2p = $$\frac{p \times r \times t}{100}$$

t = 25 years is given

r = 8%

Create a FREE account and get: