Question

At what rate of simple intrest, will a sum of money double in 8 years?

Answer 1

Answer:

$r = 12.5$

Step-by-step explanation:

$I = \frac{ptr}{100}$

here,

$I = 2p - p = p$

$r = \frac{p \times 100}{p \times 8} = 12.5$