Multiple Choice Questions on At what rate per cent per annum simple interest will a sum of money triple itself in 25 year a ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

At what rate per cent per annum simple interest will a sum of money triple itself in 25 year a ........

Quant (SSC) Simple Interest
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    At what rate per cent per annum simple interest will a sum of money triple itself in 25 year?a

    8%

    Correct Answer

    9%

    Incorrect Answer

    10%

    Incorrect Answer

    12%

    Incorrect Answer
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    Explanation:

    Let principal amount = P
    As amount = 3P, t = 25 year
    SI = 3P – P = 2P
    ?  Rate = 100 × SI / P x 25
    = 100 × 2P /P × 25 = 8%

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