Question

If a sum of money becomes $n$ times in $t$ years, then the rate of interest.

Answer 1

If a sum of money becomes $n$ times in $t$ years, then the rate of interest

$=\frac{(n-1) \times 100}{t} \%$

Example : A sum of money doubles itself in 10 years. What is the rate of interest?

$\text { Soln. : Rate of Interest }=\left(\frac{2-1}{10}\right) \times 100=10 \% \text {, Ans. }$