Question

At what rate sum doubles itself in 8 years 4 months

Answer 1

Step-by-step explanation:

Let principal(P) = 100

Time(T)= 8 year 4 months

= 8+1/3 = 25/3 years

NOW USING RATE = (SI*100)/PT

=100*100/(100*(25/3))

=100*3/(25)

=4*3

=12%