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A simple interest earned on certain amount is triple the money when invested for 16 years.what is the interest rate offered ?

13.33 %
14.25 %
16.98 %
18.75 %

Correct Answer: 18.75 %

Explanation:

Given,
S.I = 3 Principal Amount
=> 3A = A x 16 x R/100
By solving, we get
=> R = 18.75%

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