Question

Find the rate of interest by which a sum will triple itself in 16 years ?
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Answer 1

Step-by-step explanation:

Let sum is x

After 3 years its becomes triple itself then

Amount = 3x

Interest =3x−x=2x

Time = 16 years

Rate = R

Interest=

100

PTR

⇒2x=

100

x×16×R

⇒R=

16

2×100

=12.5%