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Exercise 1
At what rate of simple interest a sum of money will 4 times itself in 15 years?Detailed Solution
∴ The rate of interest is 20%.
At what rate of compound interest does a sum of money becomes 4 times of itself?∴ Rate %=41.42% half yearly and 82.84% p.a.
At what rate of interest a sum becomes 7 4 of itself in 5 years?Thus, the rate of interest is → 15%.
At what rate of simple interest does a sum of money becomes 5 times of itself in 12 years?100 becomes 500; Rate=TimeInterest=12400=33. 3%
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