A sum invested on simple interest becomes triple itself in 16 years. Then rate of interest is

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Solution

Let sum is x
After 3 years its becomes triple itself then
Amount = 3x
Interest $= 3 x - x = 2 x$
Time = 16 years
Rate = R
Interest= $\frac{P T R}{100}$
$\Rightarrow 2 x = \frac{x \times 16 \times R}{100}$
$\Rightarrow R = \frac{2 \times 100}{16} = 12.5$ %

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A sum invested on simple interest becomes triple itself in 16 years. Then rate of interest is

Let sum is xAfter 3 years its becomes triple itself thenAmount = 3xInterest =3x−x=2xTime = 16 yearsRate = RInterest=PTR100⇒2x=x×16×R100⇒R=2×10016=12.5%

Let sum is x
After 3 years its becomes triple itself then
Amount = 3x
Interest $= 3 x - x = 2 x$
Time = 16 years
Rate = R
Interest= $\frac{P T R}{100}$
$\Rightarrow 2 x = \frac{x \times 16 \times R}{100}$
$\Rightarrow R = \frac{2 \times 100}{16} = 12.5$ %