at what rate of interest p.a. certain sum of money double itself in 5 years
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hello Frnd
Let the principal Amount = X
Amount = 2X
Interest = Amount - Principal
= 2X - X
= X
Time = 5yrs
Rate = ?
As we know
Simple Interest = P × R/100 × T
X = X × R/100 × 5
100X / 5X = R
R = 20 %
Hence the Rate of Interest would be 20% For 5 years to make certain double.
hope it helps
#jerri
Let the principal Amount = X
Amount = 2X
Interest = Amount - Principal
= 2X - X
= X
Time = 5yrs
Rate = ?
As we know
Simple Interest = P × R/100 × T
X = X × R/100 × 5
100X / 5X = R
R = 20 %
Hence the Rate of Interest would be 20% For 5 years to make certain double.
hope it helps
#jerri
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