Question

at what rate of interest will a sum of money double itself in 5 years​

Answer 1

Step-by-step explanation:

jsjahshgehssjbshsuswjjsjsjsi

Answer 2

Following are the steps for getting the answer:

Solution:

the formula for simple intrest

Simple InterestA=P(1+TR%)

where,

P= principle

R%=Rate of intrest

T=time period

From the question,

we can say that SI will be 2P to order to sum of money double itself in 5 years​

Simple Interest  A=P(1+TR%)

Given that, A=2P for T=5 years and R%=?  

⇒2P=P(1+5R%)  

2=1+5R%  

5R%=1  

R%=1/5

1/5%=20

R%=20%

Thus, at 20% rate of interest will a sum of money double itself in 5 years​