Answer to Question #306677 in Mechanical Engineering for Jhay

Question #306677

7.) A certain amount of money triples after 9 years. determine its effective interest.

Expert's answer

We have,

Let p=x, A=3x.T= 9years,

SI=A−P

=3x−x

=2x

R=SI* 100/P×T

R=2x * 100 / x*9

R=22.22%

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