A sum of money triples itself in 12 years. Find

Solution

Let the Principal = Rs 100 Amount = Rs 300 [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->Amount = P + I [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->300 = 100 + I I = 300 – 100 = Rs 200 [if gte msEquation 12]>⇒ [if !msEquation]-->[endif]-->R = `(SI xx 100)/(Pxx T)` [if gte msEquation 12]> SI ×100 P × T [if !msEquation]-->[endif]--> ⇒ `(200 xx 100)/(100xx 12)` [if gte msEquation 12]> 200  ×  100 100  ×  12 [if !msEquation]-->[endif]--> [if gte msEquation 12]>∴ [if !msEquation]-->[endif]--> R = 16.66% p.a.