Question

A sum money doubles in 8 years find rate of interest

Answer 1

Answer:

Rate of interest = 12.5%

Step-by-step explanation:

Let the sum of money be ₹P.

Given that sum of money gets doubled so,

Amount = ₹2P

S.I = A - P

S.I = 2P - P

S.I = ₹P

Given, Time = 8 years

R = S.I × 100 / P × T

R = P × 100 / P × 8

R = 100/8

R = 12.5%

Answer 2

Step-by-step explanation:

1+1=11

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