A sum of money becomes 3 times in 20 years at simple interest. Find the rate of interest.
A10%
B15%
C20%
D25%
Explanation
SI = 2P. 2P = P * R * 20 / 100 => 2 = R * 20 / 100 => R = 10%.
Exam Relevance
- Topic: Interest
- Subtopic: Simple Interest
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