Question

At what rate of simple interest will some amount be doubled in 5 years?
​

Answer 1

Answer:

Let Principal = p

amount = 2p

so simple interest(si) = Amount - Principal = 2p - p = p

Time = 5 years

So,

$rate \: = \frac{si \: \times 100}{p \: \times \: t} = \frac{p \: \times 100}{p \times 5} = 20$