at what rate percent per cent of simple interest will a sum of money double itself in 12yrs
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Answer:
Principal -₹P
Amount - ₹2P
Amount = Principal - Simple Interest
₹2P = ₹P - Simple Interest
₹2P - ₹P = Simple Interest
₹P = Simple Interest
Time - 12 years
Rate of Interest = S.I. × 100 / P × T
Rate of Interest = P × 100 / P × 12
Rate of Interest = 25 / 3 %
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