Simple Interest Practice Test 4

Question : 14 of 26

Marks: +1, -0

Find the rate at which a sum becomes fourtimes of itself in 30 years.

Solution:

Let the principal be Rs P.
Then, SI = 3P
T = 30 years

∴\Rate ={100×SI}/{P×T}

={100×3P}/{P×30}=10%

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