At what rate (percent) will a sum of money triple itself in 10 years
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Answered by
4
Answer:
Rate of interest R= 20%
Step-by-step explanation:
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Answered by
3
Answer:
R = 16.66 %
Step-by-step explanation:
A = 3 P
T =12 years
A= P + I
But I= PRT / 100
So, A = P + PRT / 100
3 P = P + PRT / 100
3P – P = PR x 12 / 100
2 P = 12 PR / 100
=> R = 200 / 12 = 16.66 %
R = 16.66 %
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