A man deposited RS.1000 in a bank.The amount doubles after 5 years.find out the rate of interest.
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Answer:
rate of interest = 20%
Step-by-step explanation:
Principal money = rs. 1000
amount = 2 × 1000 = rs. 2000
interest = A - P = 2000 - 1000 = 1000
time = 5 years
Rate of interest:-
R = ( I × 100 ) / P × T = (1000 × 100) / 1000 × 5
= 20%
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