An amount becomes its 3 times in 20 years. What is the rate of simple interest per annum? Option 1: 15% Option 2: 10% Option 3: 6.67% Option 4: 6%

Answer: 10%. Solution: Let principal = P. Amount = 3P, so SI = 2P. SI=(Px Rx T)/100 2P=(Px Rx 20)/100 R=200/20=10%.

Arithmetic

Simple & Compound Interest

Easy

An amount becomes its 3 times in 20 years. What is the rate of simple interest per annum?

15%

10%

6.67%

✅ Correct Option: 2

Let principal = $P$ . Amount = $3P$ , so SI = $2P$ .

$SI=\frac{P\times R\times T}{100}$

$2P=\frac{P\times R\times 20}{100}$

$R=\frac{200}{20}=10\%$ .

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