At what rate of simple interest will the sum of money double itself in 6 years?
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Answer:
16.66%
Step-by-step explanation:
Let the principle =x
Time=6years
Amount after 6years =2x
S. I. =Amount-Principle
=2x-x=x
Rate%=S.I.×100/Principle×Time
=x×100/x×6
=16.66%
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