Question

at what rate percent per a simple interest will a sum double itself in 12 year​

Answer 1

I = Pnr/100

Here the sum doubles, so I=P

n=12

So P = P*12r/100

1 = 12r/100

12r = 100

r = 100/12 = 8.33%

Answer 2

Answer:

8.3%

Step-by-step explanation:

let x = value at year 0.

At year 12, value = 2x

Simple interest = P(1+rt)

                         = x(1+12r) = 2x

                         = 1+12r =2

                         = 12r = 1

                         = r = 1/12

                         = 0.083

                         = 8.3%