Question

A sum of money will double itself in 16 years
at simple interest with a yearly rate of​

Answer 1

Answer:

Step-by-step explanation:

A sum of money will double itself in 16 years

at simple interest with a yearly rate of​

let The money is X and the rate of intrest is Y%

Then

in 16  is 16×X(Y/100)= X

or

16×(Y/100) = 1

or

Y/100 = 1/16

or

Y = 100/16 = 6.25% Answer