Question

a rate of interest ___________, written as p.c.p.a.

Answer 1

Answer:

In this question, we will consider the unknown quantities as variables and then we will use the formula for compound interest and simple interest to reach the solution of the given problem

Step-by-step explanation:

let P

be the principal amount, I

be the simple interest and R

be the rate of interest per annum. Given in 5 years of time i.e., T=5

the final amount gets doubled the principal amount. So, the final amount is 2P

.

We know that simple interest = final amount – principal amount = 2P−P=P

. So, I=P

.

We know that I=P×T×R100

By substituting the above data, we have

⇒P=P×5×R100⇒1005=R∴R=20

Thus, the rate of interest percent compounded per annum is 20.

Answer 2

Step-by-step explanation:

$i = \frac{p \times r \times t}{100}$