Question

At what rate will a sum of money double itself in 10 years​

Answer 1

Answer:

So rate per annum = 10%

Step-by-step explanation:

Let the principal be x

Time = 10 years

Amount after 10 years gets doubled

So amount = 2x

simple interest = amount - principal

simple interest = 2x - x = x

Rate per annum = SI × 100 / P × T

= x × 100 / x × 10

100x/ 10x = 10

So rate per annum = 10%.

Answer 2

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So rate per annum = 10%

Step-by-step explanation:

Let the principal be x

Time = 10 years

Amount after 10 years gets doubled

So amount = 2x

simple interest = amount - principal

simple interest = 2x - X = x

Rate per annum = SI x 100 /P x T

= x x x 100 / x x 10

100x/ 10x = 10

So rate per annum = 10%.