In how much time will an amount be tripled, at the rate of per annum simple interest?
- A
- B
- C
- D
Solution & Step-by-step Explanation
Let the principal amount be .
Since the amount triples itself, the final Amount () will be .
The Simple Interest () earned is:
Given:
We know the formula for simple interest:
Substitute the values into the formula:
Since the amount triples itself, the final Amount () will be .
The Simple Interest () earned is:
Given:
We know the formula for simple interest:
Substitute the values into the formula: