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A sum of money at simple interest becomes four times in 24 years. What is the rate of interest per annum? No worries! We‘ve got your back. Try BYJU‘S free classes today! Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses No worries! We‘ve got your back. Try BYJU‘S free classes today! No worries! We‘ve got your back. Try BYJU‘S free classes today!
No worries! We‘ve got your back. Try BYJU‘S free classes today! Solution The correct option is C 1212%We have, n = 4 and T =24 years. ∴ Rate of interest =100(n−1)T=100(4−1)24 =1212%
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R % = [(4 - 1)× 100]/10 = 3 × 10 = 30%. ∴ Rate of interest is 30%.
In what time does a sum of money becomes 4 times at simple interest rate of 5% per annum?Hence a sum of money become four times at the simple interest rate of 5% per annum in 60 years .
At what rate of compound interest does a sum of money becomes 4 times?Detailed Solution
Sum of money becomes 4 times after 2 years at CI. Calculations: Let the sum be P. ∴ The rate of interest is 100%.
What should be the interest rate for an amount to become 4 times of itself at simple interest in 60 years?Answer. Therefore, the interest rate for the amount to become 4 times of itself at simple interest in 60 years is 5% annum.
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In what time does money becomes four times at the simple interest rate of 10% per annum?
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