(9) A sum of money triples itself in 20 years. What is the rate of i – InterviewSolution

1.	(9) A sum of money triples itself in 20 years. What is the rate of interest (Hint:Principal = P then Interest = 2P so thatamount=P+2P=3P, i.e. the sum triples)
Answer» 10% = RateStep-by-step explanation:time = 20 yearsprincipal = PINTEREST = 2Prate = Rtherefore, 2P = p * R * 20 / 100= p * r * 1 / 510P = P * R10P / p = RTherefore 10 = R

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