A sum of money triples itself in twelve years at simple interest. Find the rate of interest? Select the correct option.
A) 16 2/7 % B) 16 8/3 % C) 17 2/3 % D) 11 2/3 % E) 16 2/3 %
Let the pricipal be Rs. x, then amount = 3x(where R = rate of interest) =&gt; Interest = 3x - x = Rs. 2x   R = (100 * 2x)/(x * 12) = 50/3 % = 16 2/3 %.Answer: 16 2/3 %
<result>E</result>
A sum of money triples itself in twelve years at simple interest. Find the rate of interest?