Question
At a simple interest rate of ‘r%’ per annum, an amount
becomes 5 times its original value in 16 years. What is the value of ‘r’?Solution
ATQ,
Let the principal amount be Rs. ‘P’
ATQ;
5P – P = (P × r × 16) ÷ 100
Or, 400 = 16 × r
So, r = 25
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