Question

at what rate of simple interest will a sum of money double itself in two in 20 years​

Answer 1

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Answer 2

Answer:

Rate of interest is 5% per annum

Step-by-step explanation:

R=?

let P be x

A=2 x

T = 20 years

since,

I = A-P

therefore,

I = 2x - x

I = x

I = P * R * T / 100

R = I * 100 / P * T

R = x * 100 / x * 20

R = 100/ 20

R = 5%