Question

at what rate of simple interest a sum of money will become double in 15 years​

Answer 1

Let Principle = x

Given;

• SI = 2x
• R = ?
• T = 15 years

Thus SI = PRT/100

• SI = (x × R × 15)/100
• 2X = xR×15/100
• 2 = R×15/100
• 2 = 3R/20
• 3R = 40
• R = 40/3 = 13.33%

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