Question

A sum of money quadruples itself in 24 years under simple interest scheme the rate of interest in

Answer 1

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Answer 2

The rate of interest is 12.5%

Step-by-step explanation:

Let the principal be x

A sum of money quadruples

Amount = 4x

Simple interest = 4x-x=3x

Time = 24 years

$SI = P \times T \times R }{100}\\3x=\frac{x \times 24 \times R}{100}\\\frac{300}{24}=R$

12.5 % = R

Hence The rate of interest is 12.5%

#Learn more:

A sum of money trebles itself in 20 years at simple interest . find the rate of the interest

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