The rate at which a sum at simple interest will treble itself in 8 years is​

Question

The rate at which a sum at simple
interest will treble itself in 8 years is​

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Jasmine 1 month 2021-10-29T22:28:59+00:00 1 Answer 0 views 0

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    2021-10-29T22:30:49+00:00

    Answer:

    Step-by-step explanation:

    Answer: 25% is the rate of interest when principal amount triples in 8 years.

    Formula: Interest =

    where P – principal, N – number of years, R – rate of interest.

    Given the money triples itself = 3P

    Solution:

    Hence the original interest of money we get = 3P – P = 2P

    Simple Interest =

    The rate of interest is 25% where the principal amount triples itself.

    Read more on Brainly.in – https://brainly.in/question/1398355#readmore

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