What is that rate of simple interest at which a sum of money becomes three times of itself in 34 years?

Correct option is B

Given:
Time (T) = 34 years, Final amount = 3 × Principal (P)
Formula Used:
Simple Interest (SI) = P × R × T / 100
Solution:
Since the final amount is three times the principal, SI = 2P (as SI is the extra amount).
Thus, 2P = P × R × 34 / 100
R = (2 × 100) / 34 = 200 / 34 ≈ 5.88%