Question

at what rate of intrest will a sum of money double itself in 16 hole 2 by 3 years​

Answer 1

Answer:

Correct option is

6 ¼ %

Here, interest is to become equal to the principal in 16 years.

Suppose principal =x

Then amount =2x

∴ Interest =x

R=

P×T

SI×100

=

100×16

100×100

=

4/25

=6 ¼%