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If a sum of money becomes 5 times in 12 years, the rate of interest per annum is

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100/3%

134/4%

120/4%

150/23%

answer is A.

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Detailed Solution

Solution:

P = x

R = ?

T = 12 years

S.I = 4x

$\begin{array}{l} 4 x = \frac{x \times 12 \times R}{100} \\ 3 R = 100 \Rightarrow R = 33 \frac{1}{3} % \end{array}$

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