Question

at what rate of simple interest per annum a sum becomes double in 5 years​

Answer 1

Answer:

Rate will be 20%

Solution

Let the initial amount as P and rate as R

So after 5 years the final amount will become 2P

As Final amount = S.I+ P

2P = S.I +P

S .I = 2P - P

S.I = P

P = PRT/100

$\frac{pr5}{100} = \frac{pr}{20}$

P = pr/20

20P = PR

$\frac{20p}{p} = r$

R = 20%

Answer 2

Answer:

20%

Step-by-step explanation:

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