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An amount will triple itself in years on simple interest. Find the rate of interest.

  1. A
  2. B
  3. C
  4. D

Solution & Step-by-step Explanation

Let the principal amount be .
Since the amount triples itself in years, the final amount .

The Simple Interest () earned is:



Using the Simple Interest formula:



Substitute the known values ( and ):









Thus, the rate of interest is .

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An amount will triple itself in years on simple interest. Find the rate of interest.
A
B
C
D

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