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 rate of interest per annum?

A. 10%
B. 15%
C. 20%
D. 25%

Explanation:

If the sum triples, SI = 2P over 12 years. Rate = SI/(P×T) × 100 = 20%. Other options are incorrect.

Related Topics

How to Evaluate Expressions Using Order of Operations (PEMDAS/BODMAS)

Revision Notes

How to Find Asymptotes of Exponential and Logarithmic Functions

Revision Notes

How to Calculate the Circumference of a Circle

Revision Notes

How to Solve Percent Proportions

Revision Notes

How to Interpret Logarithmic Scales (pH, Richter, Decibel)

Revision Notes

How to Simplify Complex Fractions

Revision Notes

How to Decompose a Vector into Components

Revision Notes

How to Simplify Radicals (Square Roots)

Revision Notes

How to Work with Mutually Exclusive and Non-Mutually Exclusive Events

Revision Notes

How to Calculate the Lateral Surface Area of a Cone

Revision Notes