A sum of money will triple itself in 20 years at simple interest with yearly rate of -
A
5%
B
7.5%
C
10%
D
12%
Correct Answer: 10%
Let, the sum of money be x and yearly rate be y<math xmlns = "http://www.w3.org/1998/Math/MathML"><mo>∴</mo></math> 2x = <math xmlns = "http://www.w3.org/1998/Math/MathML"><mi>x</mi><mo>×</mo><mn>20</mn><mo>×</mo><mfrac><mi>y</mi><mn>100</mn></mfrac></math><math xmlns = "http://www.w3.org/1998/Math/MathML"><mo>⇒</mo></math> y = 10