At what rate per annum with simple interest will any money becomes thr

1.	At what rate per annum with simple interest will any money becomes thrice in 12.5 years?1. 8%2. 16%3. 12%4. 20%
Answer» Correct Answer - Option 2 : 16% Concept used: R = (I × 100)/(P × T) A = P + I Where R = rate of interest, P = principal, I = interest T = time and A = Amount Calculation: Let P = 100 then A = 300 I = 300 - 100 = 200 R = (200 × 100)/(100 × 12.5) ⇒ R = 200/12.5 ∴ Rate of interest is 16%

At what rate per annum with simple interest will any money becomes thrice in 12.5 years?1. 8%2. 16%3. 12%4. 20%

Answer» Correct Answer - Option 2 : 16%

Concept used:

R = (I × 100)/(P × T)

A = P + I

Where R = rate of interest, P = principal, I = interest

T = time and A = Amount

Calculation:

Let P = 100 then A = 300

I = 300 - 100 = 200

R = (200 × 100)/(100 × 12.5)

⇒ R = 200/12.5

∴ Rate of interest is 16%

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At what rate per annum with simple interest will any money becomes thrice in 12.5 years?1. 8%2. 16%3. 12%4. 20%

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