Find the rate of interest by which a sum will triple itself in 16 years.
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let Principal = 100
amount = 300
time = 16 years
interest = 200
therefore rate = (interest × 100)/(principal × time)
= (200 × 100)/(100 × 16)
= 200/16
= 12.5%
amount = 300
time = 16 years
interest = 200
therefore rate = (interest × 100)/(principal × time)
= (200 × 100)/(100 × 16)
= 200/16
= 12.5%
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