In what time does a sum of money become four fold at the simple interest ratio of 10% per annum?

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Accepted Answer

Here, n = 4, R = 10, T = ? According to the formula, R = 100 (n - 1)/T ⇒ 10 = [100(4 - 1)]/T = (100 x 3)/T ∴ T = 30 yr

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