In how many years, a sum will be thrice of it at the rate of interest 5% per annum ?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 40 years
Let principal be Rs.100 A/Q to question it needs to be Rs.300
here we would have SI of Rs 200
SI = principal × rate × time/100
200 = 100 × 5 × time/100
time = 200/5 = 40 yrs