Question Details

Detailed explanation and options for the selected question.

A sum of money triples itself in 12 years at simple interest. What is the rate of interest per annum?

A. 10%
B. 15%
C. 20%
D. 25%

Explanation:

If the sum triples, SI = 2P over 12 years. Rate = SI/(P×T) × 100 = 20%. Other options are incorrect.

Related Topics

How to Multiply and Divide Negative Numbers

Revision Notes

How to Estimate Roots Using the Newton-Raphson Method (Intro)

Revision Notes

How to Use Matrices for Solving Linear Systems

Revision Notes

How to Calculate Permutations (Ordered Arrangements)

Revision Notes

How to Work with Negative Numbers (Addition and Subtraction)

Revision Notes

How to Convert Roman Numerals to Arabic Numerals

Revision Notes

How to Compute the Greatest Common Divisor (GCD) for Polynomials

Revision Notes

How to Simplify Algebraic Expressions

Revision Notes

How to Calculate Percentile Rank

Revision Notes

How to Interpret and Plot Pie Charts

Revision Notes