M4maths Previous Puzzles

09 Sep 2019 Simple Interest

At what simple interest rate percent per annum will a sum of money triple in 19 years.

OPtion

1) 10.50
2) 10.52
3) 9.33
4) 10.50
5) 10.53
6) 10.14
7) 10.75
8) 9.75
9) 10.66
10) None of these

Solution

SI = PRT/100

SI = 2P

So 2P = P*R*19/100
= R= 200/19 = 10.53
Option 5)

Correct Option: 5 Best Solution (0)