Simple Interest Practice Test 2

Question : 32 of 40

Marks: +1, -0

In how many years will a sum be three times of itself at 8% rate of interest per annum of simple interest?

Solution:

Let the principal = Rs P.
Then simple interest = Rs 2P
Rate = 8%

∴\Time ={100×SI}/{P×R}

={100×2P}/{P×8}

= 25 years

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