At what rate percent per annum simple interest will a sum be double itself in 8 years?
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7
Answer:
Step-by-step explanation:
12.5% per annum
At what rate percent per annum will a sum of money double in 8 years. Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.
Answered by
5
Answer:
Let the Principal be x
If we want to double it we want interest to be x as well.
herefore x= x*R*8/100
100x/8=Rx
12.5x/x=R
12.5%=R
Step-by-step explanation:
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