Question

at what rate percent per annum 5.1 will a sum of rupees 100 become rupees 300 in 16 years

Answer 1

Hi ,

Principal ( p ) = Rs 100

Amount ( A ) = Rs 300

Interest ( I ) = A - p

= 300 - 100

= Rs 200

Time ( t ) = 16 years

Let the rate of interest = r

r = ( 100 × I ) / pt

= ( 100 × 200 ) / ( 100 × 16 )

= 200 / 16

= 12.5%

I hope this helps you.

:)