Question

at what rate of interest will a sum of money double it self in 16 years​

Answer 1

Answer:

let sum be x

then, amount is 2x

and, SI = 2x-x= x

so, rate%= (x×100)÷x×16

= 100÷16= 6.25%

Answer 2

Answer:

Rate=6.25

Step-by-step explanation:

Short Method

Formula

=n-1/T×100

=2-1/16×100

=6.25%