Q5 of 59 Page 16

A sum of money triples itself in 8 years. Find the rate of interest.

Simple interest (SI)

Here,


Let Principal amount (P) = x


Time (T) = 8 years


Amount at end of 8 years = 3x


SI = 3x-x


= 2x


Rate (R) =



= 25%


∴ Rate of interest = 25%.


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