In how many years, the interset of a money will be 3 times of the money by the rate of 2% yearly ?

Options

A. 50
B. 150
C. 100
D. 125

Answer

To solve the problem of finding out how many years it will take for the interest on a principal amount to become three times the principal at a rate of 2% per year, we can follow these steps:

### Step-by-Step Solution:

1. **Understand the Problem**: We need to find the time (T) it takes for the simple interest (SI) to equal three times the principal (P). Therefore, SI = 3P.

2. **Recall the Formula for Simple Interest**:
\[ \text{SI} = \frac{P \times R \times T}{100} \]
where:
- SI = Simple Interest
- P = Principal amount
- R = Rate of interest (in %)
- T = Time (in years)

3. **Substitute the Known Values**:
We know that SI = 3P and R = 2%. Substituting these values into the formula gives:
\[ 3P = \frac{P \times 2 \times T}{100} \]

4. **Simplify the Equation**:
We can cancel P from both sides (assuming P ≠ 0):
\[ 3 = \frac{2T}{100} \]

5. **Cross-Multiply to Solve for T**:
\[ 3 \times 100 = 2T \]
\[ 300 = 2T \]

6. **Divide by 2 to Isolate T**:
\[ T = \frac{300}{2} = 150 \]

7. **Conclusion**:
The time required for the interest to become three times the principal at a rate of 2% per year is **150 years**.