A sum of money triples itself in twelve years at simple interest. Find the rate of interest? Options: A . &nbsp12 1/2 % p.a. B . &nbsp14 4/7 % p.a. C . &nbsp15 2/3 % p.a. D . &nbsp13 3/8 % p.a. E . &nbspNone of these

A sum of money triples itself in twelve years at simple interest. Find the rate

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A sum of money triples itself in twelve years at simple interest. Find the rate of interest?

Answer: Option E

Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest) => Interest = 3x - x = Rs. 2xR = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3 %

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