Question

At what rate per annum simple interest will a sum double itself in 12 years?​

Answer 1

If you really mean “simple interest for the entire 12 year period” then the interest rate is 8.3333%.

That’s because, in simple interest, you literally mean that you NEVER earn interest on the interest. So you earn the same amount of interest each year.

To earn $1 on $1 (ie double), you need to earn 8 and 1/3 cents every year, then after 12 years, you’ll have earned that second dollar.

However, it’s more likely that you mean “not compounded within the year”, so while you earn simple interest within a year, each year compounds. So during the second year, you earn interest on the interest you earned in the first, and so on.

Doing this, brings the rate required down to almost exactly 5.99%

Answer 2

Step-by-step explanation:

r =100\12

that means it's the answer