Question

a sum of money gets doubled in 10 years at simple interest find the rate of interest per annum​

Answer 1

Answer:

Step-by-step explanation:

Let the Principal be 100. P = 100, then A = 200 and SI will be 200 - 100 = 100 SI = 100 for 10 years Rate = 100/10 = 10%. ∴ The rate of interest is 10%. Traditional method: Given: Time period = 10 years Formula used: SI = (P × R × T)/100 A = P + SI Where, P = principal, R = rate, T = time, SI = simple interest Calculations: The sum of money is 2P SI = 2P - P ⇒ P = (P × R × 10)/100 ⇒ 1 = R/10 ⇒ R = 10% ∴ The rate of interest is 10%.