Question

at what principle of simple interest will a sum of money double itself in 20 years​

Answer 1

Answer:

Step-by-step explanation:

Let the principle = x

Time = 20 years

R =?

and Amount A = 2x

We know that,

A = P ( 1 + TR /100)

2x= x ( 1+ 20 R /100)

2x / x = 1+ 20 R /100

2-1 = R / 5

R =5*1=5%

At 5% simple interest, a sum of money doubles itself in 20 years.