Question Details

Detailed explanation and options for the selected question.

A sum of money triples itself in 12 years at simple interest. What is the annual rate of interest?

A. 15%
B. 20%
C. 25%
D. 30%

Explanation:

Explanation: Simple Interest = 2×Principal. Rate = SI/(P×T)×100 = 200/(12×100) = 16.67%. Other options are incorrect.