Question

If simple interest becomes $n$ times of principal in $t$ years then

Answer 1

If simple interest becomes $n$ times of principal in $t$ years then,

$\text { Rate }=\frac{n \times 100}{t} \%$

Example : If simple interest of a sum of money becomes 4 times of principal at simple interest in 10 years what is the rate of interest?

$\text { Soln. : Rate }=\left(\frac{4 \times 100}{10}\right)=40 \% \text {, Ans. }$