📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

    âš¡ Month End Offer - Flat 52% Off On All Courses! Enroll Now âš¡
    00:00:00 AM Left

    Question

    A sum of money triples itself in 12 years. Find

    the rate percent per annum.
    A 14%p.a. Correct Answer Incorrect Answer
    B 16.50% p.a. Correct Answer Incorrect Answer
    C 16.66%p.a. Correct Answer Incorrect Answer
    D 18%p.a. Correct Answer Incorrect Answer

    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.

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question