Question

a sum of money double itself in 6 years what is the rate of interest

Answer 1

let sum of money be x

therfore sum of money after 6 years = 2x

S.I = P×R×N/100

x = x × R × 6/100

R = 100/6

R = 16.6%

Answer 2

let that mony is (p)=X

after 6 month (a)=2X

then, simple intrest is 2x-x=x

rate formula is =simple intrest*100/p*t

x*100/x*6

then rate is 100/6=16.667%apx