Question

at what rate per cent per annum will the sun of money double itself in eight years​

Answer 1

Answer:

Rate = [(100 x P)/ (P x 8)]%

= 12.5% per annum.

it'll be your answer.

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Answer 2

Answer:

R = 12.5 %

Step-by-step explanation:

Let the P be x

After 8 years : A=2x, T=8 yrs

1. I = A-P
2. I = 2x - x
3. I = x

$r \: = \frac{i \times 100}{p \times t}$

1. r = x*100/x*8
2. r = 100x / 8x
3. r = 100 / 8
4. r = 12.5 %