The rate at which a sum at simple interest will treble itself in 8 years is Question The rate at which a sum at simpleinterest will treble itself in 8 years is in progress 0 Math Jasmine 1 month 2021-10-29T22:28:59+00:00 2021-10-29T22:28:59+00:00 1 Answer 0 views 0

## Answers ( )

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.

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