A sum of money triples itself in 12 years at simple interest. Find the rate of interest per
annum.
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Answer:
16.67 %
Step-by-step explanation:
suppose money invested is ₹100
then after 12 years it will be ₹300
interest earned = 300-100=200
as we know it's simple interest method
therefore 200 will be divided in equal 12 parts
200/12 = 16.67
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