Question

A certain investment takes 18 years to grow 5 times. How long would it take to double itself? What annual rate of simple interest does the investment earn?​

Answer 1

Answer:

200/9 or 22.22%

Explanation:

let the investment be 100

period = 18 years

amount = 500(it grows 5 times)

interest = 500–100=400

rate of intrest = 100×interest/PX period

100×400/100×18=200/9%

It will double in how many years

amount =200, interest =100

rate of intrest =200/9%

period = 100×100/100×200/9=9/2 or 4 1/2 years

So it will double in 4 1/2 years

rate of simple interest = 200/9 or 22.22%

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