Discussion
At what rate of simple interest, a certain sum will increase by upto 36% in 3 years ?
Answer: C
The rate is 12%.
With simple interest, the interest is the same every year. If the sum grows by 36% of itself in 3 years:
\[ \begin{aligned} R \times 3 &= 36 \\ R &= 12\% \end{aligned} \]
Check: 12% for 3 years is 36% of the principal. 9% and 10% give 27% and 30%, and 18% gives 54%.
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