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At what rate per cent of simple interest will a sum of money triple itself in 20 years?
A12.5%
B8%
C9%
D10%
Answer & Solution
Correct answer: D. 10%
Triples means Amount = 3P, so Interest = 2P. From SI = P × R × T / 100: 2P = P × R × 20 / 100, giving R = 200/20 = 10%.
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