Discussion
A sum of money triples itself in twelve years at simple interest. Find the rate of interest?
Answer: D
\[ \text{SI} = \frac{P \times R \times T}{100} \]
Tripling means the interest is twice the principal.
\[ 2P = \frac{P \times R \times 12}{100} \quad\Longrightarrow\quad 200 = 12R \]
\[ R = \frac{50}{3} = 16\tfrac{2}{3}\% \text{ p.a.} \]
That rate is not among the choices, so the answer is none of these. The multiple counts the amount, so the interest is one less than it - using 3 instead of 2 would give 25%.
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