a certain sum of money will be double of itself in 6 year 8 month find the rate of the interest per year
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Let sum be P
Sum=P
Amount= 2P
Therefore, SI= A-P
=2P-P= P
Time = 6 yrs 8 mths= 6*12+8=72+8
= 80 mths
Rate = SI*100/P*T
= P*100*12/P*80( time in mths,
somultiply by 12)
=10*12/8
=120/8
Rate =15%
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