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
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the Principal = Rs 100 Amount = Rs 300 ⇒ Amount = P + I ⇒ 300 = 100 + I I = 300 – 100 = Rs 200 ⇒ R = (SI x 100)/(P x T) ⇒R = 200 x 100/(100 x 12) R = 16.66% p.a.

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