a sum of money become 7 by 4 of itself in 6 year at a certain rate of interest. find the rate of interest.
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let the sum be X .
amount is 7 X/4
interest=3x/4
when principal is X for 6 year interest is 3x/4.
when principal is 1 for 1 year interest is 3x/4*1/X*6=9/2.
therefore the rate of interest is 4.5%
myself87:
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