Question : The rate at which a sum becomes four times itself in 12 years, at simple interest, will be:
Option 1: 20%
Option 2: 25%
Option 3: 35%
Option 4: 30%
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Correct Answer: 25%
Solution : Let the sum be $P$. Simple interest $=4P - P = 3P$ Time = 12 years We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ ⇒ Rate = $\frac{3P \times 100}{P \times 12}$ $\therefore$ Rate = 25% Hence, the correct answer is 25%.
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