At what simple interest rate percent per annum will a sum of money triple in 21 years.

M4maths Previous Puzzles

05 Nov 2018 Simple Interest

At what simple interest rate percent per annum will a sum of money triple in 21 years.

OPtion

1) 9.50
2) 9.52
3) 8.33
4) 9.50
5) 9.25
6) 9.14
7) 9.75
8) 8.75
9) 9.66
10) None of these

Solution

SI = PRT/100

SI = 2P

So 2P = P*R*21/100
= R= 200/21 = 9.52
Option 2)

Correct Option: 2 Best Solution (0)