In how many years will a sum of money triple itself at 12.5% per annum simple interest?

Topic: Interest
Subtopic: Simple Interest

A12 years

B14 years

C16 years

D18 years

Explanation

Interest SI = 3P – P = 2P. Time T = (SI * 100) / (P * R) = (2P * 100) / (P * 12.5) = 200 / 12.5 = 16 years.

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