Question

At what rate of of simple interest will a sum of money double itself in 20 years. Please give the explanation of this answer​

Answer 1

Step-by-step explanation:

let principal be x you can also take it as 1 or 100

then it dubbles so it will be one 2x

x becomes 2x

so intrest is amount-principal

2x-x=x

so rate =i*100/p*t

so rate = x*100/x*20 ( here x in numerator is intrest that is 2x-x and x in denominator is principal which we took as x )

so x gets cancelled

that is 100/5 =5 percent rate of interest

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