Question
In a certain duration of time, a sum becomes 2 times
itself at the rate of 5% per annum simple interest. What will be the rate of interest if the same sum becomes 5 times itself in the same duration?Solution
R1=5% and R2=r R1/I1 =R2/I2 … (1) ATQ- PrincipalAmountInterest 121(I1) 154(I2) Now From Equation (1)- 5/1=r/4 r = 20%.
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