Question

At what rate of simple interest will the sum double itself in 2years??​

Answer 1

Answer:

Let the principle = x

Time = 20 years

R =?

and Amount A = 2x

We know that,

A = P (1+tr/100)

2x= x ( 1+ 20 R /100)

2x / x = 1+ 20 R /100

2-1 =

R =5*1=5%

At 5% simple interest, a sum of money doubles itself in 20 years.

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