A certain sum becomes 8 fold in 15 yr at simple interest. What will be the rate interest?

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Accepted Answer

Let sum = p Then, after 15 yr Sum = 8p ∴ SI = 8p - P = 7P Now, 7P = (P x R x 15)/100 ⇒ 7 = 15R/100 = 3R/20 ∴ R = (20 x 7)/3 = 140/3 = 462/3%

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