Question Details

Detailed explanation and options for the selected question.

A sum triples in 20 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 20 years. Rate = SI/(P×T)×100 = (2P)/(P×20)×100 = 10%. Other options are incorrect.

Related Topics

How to Use Similar Triangles

Revision Notes

How to Solve Work-Rate Problems

Revision Notes

How to Graph Piecewise Functions

Revision Notes

How to Find the Midpoint Between Two Points

Revision Notes

How to Calculate the Volume of a Cylinder

Revision Notes

How to Calculate Probability in Bernoulli Trials

Revision Notes

How to Graph Inequalities on the Number Line

Revision Notes

How to Identify Functions vs. Relations

Revision Notes

How to Convert Parametric Equations to Cartesian Form

Revision Notes

How to Solve Exponential Inequalities

Revision Notes