Question

A certain sum of money doubles itself in 16 years at simple interest. What is the rate of interest?

Answer 1

Answer:

SI = PNR/100

Suppose we invest ₹ 1000.

To double the amount, the Interest should be equal to the principal.

Taking rate of interest as 'X'.

1000 = 1000 x 16 x 'X'/100

100000 = 16000 x 'X'

100000/16000 = 'X'

X = 6.25

So, the rate of interest is 6.25%

Answer 2

Answer:

6 1/4 percentage

Explanation:

if a sum becomes double of itslef in 16 years means interest is 100% in 16 years there fore rate of interest = 100/ years which is 100/16 = 6 1/4