At what rate of interest will 6,500 get doubled in a period of 10 years?
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Answer:
Principal= $6500
Amount= $6500×2= $13000
Time= 10 years
Interest= Amount- Principal
= 13000-6500=6500
Rate= 100× Interest/ Principal×Time
= 1000% p.a.
Ans. Rate is 1000% p.a.
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