A sum becomes three times of itself in 10 years at the rate of simple interest. What is the rate of interest per annum?
Let principal sum = Rs. $$x$$
The sum becomes 3 times after 10 years, => Simple interest = Rs. $$2x$$
Simple interest = $$\frac{P\times R\times T}{100}$$
=> $$\frac{x\times r\times 10}{100}=2x$$
=> $$\frac{r}{10}=2$$
=> $$r=20\%$$
=> Ans - (B)
Create a FREE account and get:
