A certain sum becomes 3 fold at 4% annual rate of interest. At what rate, it will become 6 fold?

Question

Accepted Answer

Here, n = 3, m = 6, R1 = 4% ∴ R2 = [(m - 1)/(n - 1)] x R1 = [(6 - 1)/(3 - 1)] x 4 =(5/2) x 4 = 10%

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