A sum of money at a Certain rate per annum of Simple interest doubles in the 5 years and at different rate becomes three times in 12 years. The lower rate of interest per annum?

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Anonymous

Asked: January 1, 20222022-01-01T17:29:41+05:30 2022-01-01T17:29:41+05:30Category: Number Puzzles

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Mighty Ashish · Answer 1 · 2022-01-01T17:37:19+05:30

Explanation:

According to the question,

Case1

time = 5 years

Required Rate(in per)=1\1×100\5

=100\5=20%

Case2

Required Rate %

=2\1×100\12=50\3=16 2\3%

Hence, Lower Rate%

=16 2\3%