A simple interest earned on certain amount is triple the money when invested for 16 years.what is the interest rate offered ?
A) 13.33 % B) 14.25 % C) 16.98 % D) 18.75 %
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Answer:
Given,
S.I = 3 Principal Amount
=> 3A = A x 16 x R/100
By solving, we get
=> R = 18.75% d) 18.75%
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