Question

what should be the interest rate for an amount to becomes four time of it self of simple interest in 60 years​

Answer 1

Answer:

5% per annum

A sum of money become four times at the simple interest rate of 5% per annum in 60 years . Formula : Hence a sum of money become four times at the simple interest rate of 5% per annum in 60 years .....

Step-by-step explanation:

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Answer 2

Answer:

5%

Step-by-step explanation:

A=P+I=4P

I=A-P=4P-P=3P

3P=P×R×60/100

R=100×3P/60P=5%