Question

at what rate of simple interest will sum amount be doubled in 5 years​

Answer 1

It will take 14.28 years to double my money at 7% simple interest rate. For compound interest, the formula is r=72/n, where r is the rate of interest and n is the number of years....✌️❤️

Answer 2

Answer:

Step-by-step explanation:

Here you have your answer dear

Simple interest formula is :

(P×R×N)/100= INTREST

So we want a sum to be doubled right ?

Then we must have sum=interest recieved

Therefore our above formula becomes ,

P×R×N/100= sum you had borrowed =P

Now we need to find N that is number of years

So P will be cancelled on both sides we left with

R×N/100=1

Here R=? N=5 years

Plugging in values ,we get R=20%