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At what rate percent p.a will a sum of money triple itself in 25 years?
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Answer:
n = 25 years , A= 3p
Step-by-step explanation:
A = P+ Pnr/100
3P = P +[ P (25)r]/100
3P = P [ 1+25r/100]
3 = ( 100 + 25r ) / 100
300 = 100+25r
25r=200
r = 8
Thus rate percent = 8%
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