Question

at what rate would a sum of money become four times itself if invested for 2 years
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Answer 1

Answer:

A sum of money become four times itself if invested for 2 years at RATE of 150%

Step-by-step explanation:

Let the principal = P

Amount after 2 years = 4P

Time = 2years

∴ Interest = Amount - Principal ⇒ 4P - P = 3P

∵ $Interest = \frac{P*T*R}{100}$

⇒ 3 P = (P * 2 * R) / 100

⇒ Rate = $\frac{3P*100}{P*2} = 150$

∴ Rate = 150%

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