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    Question

    A sum when invested at a certain rate of simple interest

    becomes 3 times itself in 25 years. Find the rate of interest.
    A 5% Correct Answer Incorrect Answer
    B 7% Correct Answer Incorrect Answer
    C 8% Correct Answer Incorrect Answer
    D 6% Correct Answer Incorrect Answer

    Solution

    Let the sum invested be Rs. ‘P’ and rate of interest be ‘r’% p.a. So, the amount received at the end of 25 years = Rs. ‘3P’ So, interest earned = 3P-P = Rs. ‘2P’ ATQ. 2P = (P × r × 25) ÷ 100 Or r = 8% So, rate of interest = 8% pa

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