A sum of money doubles itself in 5 years at a simple interest. Then what is the rate of interest
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Answered by
4
Answer:
Si=prt/200
1=1×r×5/100
r=20%
Answered by
2
Answer:
20%
Explanation:
Let sum of money be x
Amount=2x
Simple interest = amount-principal
Simple interest = 2x-x
Simple interest = x
Simple interest = principal*rate*time/100
x=x*rate*5/100
x * 100/x*5 = rate
20= rate
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