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.

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