Question

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

Answer 1

Answer:

8⅓ %

Step-by-step explanation:

Let the Principal amount be ₹ 100.

Amount after 12 years is double = ₹200.

Simple Interest = Compound Amount - Principal Amount

S.I. = 200 - 100 = ₹100

Time = 12 years

S.I. = (P × R × T) / 100

100 = (100× R × 12)/100

100 = R × 12

100/12 = R

25/3 = R

R = 8⅓ %

Rate = 8⅓ %