What is that rate of simple interest at which a sum of money becomes three…
2021
What is that rate of simple interest at which a sum of money becomes three times of itself in 48 years?
Answer: B. 4.17 percent — Let the principal be P. The amount becomes 3P, so the Simple Interest (SI) earned is 3P - P = 2P. Use the SI formula: SI = (P * R * T) / 100. Substitute the…
- A.
5.28 percent
- B.
4.17 percent
- C.
4.38 percent
- D.
5.68 percent
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Correct answer: B
Let the principal be P.
The amount becomes 3P, so the Simple Interest (SI) earned is 3P - P = 2P.
Use the SI formula: SI = (P * R * T) / 100.
Substitute the known values: 2P = (P * R * 48) / 100.
Simplify the equation: 2 = (R * 48) / 100.
Solve for R: R = 200 / 48 = 4.166...% ≈ 4.17%.
Final Answer: Option 2
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