Question

A sum of money simple interest doubles itself in 16 years . find the rate percent per annum .

Answer 1

Hi friends

Here is your answer

Let the principal is x

Amount is 2x

So Simple Interest is x

Time = 16 years

As we know the formula

SI = PRT/100
$x = \frac{x \times r \times 16}{100} \\ \\ r = \frac{x \times 100}{x \times 16} \\ \\ r = 6.25\%$
Therefore Rate of interest is 6.25%

Hope it helps you

@ MSD

Answer 2

this is the answer to the question you asked.