Question

a certain sum of money will be double of itself in 6 year 8 month find the rate of the interest per year

Answer 1

Answer

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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