Question 121
The rate of simple interest at which a sum of money becomes three times in 25 years is :
Solution
Let the rate of interest be r%
as the money is becoming 3 times the investment in 25 years it means we are generating an interest of 2times the principal amount in 25 years
2p = $$\frac{p \times r \times t}{100}$$
t = 25 years is given
r = 8%
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