Question

at what rate% will a sum of money double of itself in 10 years

Answer 1

Let, Principal=100
Principal+Interest= (100×2)=200
So, Interest=200–100=100
We know, I=(P×N×R)/100
R=(I×100)/(P×N)
=(100×100)/(100×10)
=10
Answer: 10%

Answer 2

Answer:

Step-by-step explanation :

Let principal be p and rate be r.

Now amount=2p as sum doubles itself

Interest=2p-p=p

p*r*10/100=p

r/10=1

r=10

Thus rate percent per year (simple interest) is 10%