Question

6. At what rate of simple interest, will a sum of money double in 8 years ? ​

Answer 1

Answer:

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12.5% per annum

At what rate percent per annum will a sum of money double in 8 years. Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

Answer 2

Step-by-step explanation:

let , the principal =P, S.I.=P, time = 8 years

S.I.= PRT/ 100

Rate= (100 ×p) / ( p×8) °/• = 12.5•/°

Ans= 12.5 °/• per annum