Math, asked by saksham20074, 5 months ago

A sum of money doubless in 5 years. Find the rate of interest

Answers

Answered by jaideeps71002

Answer:

Hi there, the simplest rule of thumb for this is just divide the number 72 by the number ofyears in which the investment will double. If itdoubles in 10 year the rate rate is about 7.2%. If it doubles in 5 year, the the approximateinterest rate is 72/5 = 14.4%.

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