Multiple choice general knowledge math & puzzles

If a principle becomes 3 times in 10 years according to simple interest, what is the rate of interest?

  1. 10 %

  2. 20 %

  3. 30 %

  4. 40 %
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

If the principal becomes 3 times in 10 years under simple interest, the interest earned is 2 times the principal. Rate = (2P x 100) / (P x 10) = 20%, so the rate of interest is 20%.

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