Question

At what rate percent per annum simple interst will double itself in 2 years​

Answer 1

Answer:

Given,

Time(T) = 2 year

Let the Principal be p, Rate be r and Interest be I.

Amount= 2p

Amount= Interest + Principal

=> 2p= p+l

=> 2p-p=l

=>p=l

$Rate= \frac{Interest×100}{Principal×2}$

$= > Rate= \frac{I×100}{P×2}$

We know that, Interest is equal to Principal.

$= > Rate= \frac{P \times \cancel{100}^{50} }{P× \cancel{2}}$

$= > Rate= 50\%$

Therefore, The rate of the interest is 50%.