Find the rate at Simple interest, at which a sum becomes four times of itself in 15 years.
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Answer:
R = 20%
Step-by-step explanation:
Let sum = 100
Time = 15years
Amount = 4xsum = 400
SI = A - P = 400 - 100 = 300
R = SI×100/P×T
= 300×100 / 100×15
= 20% p.a
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