Question

Find the rate at which a sum of money will be double itself in 2 years

Answer 1

let the principal be 100. Then , amount = 200

SI = A - P

=> 200-100

=> 100

Time = 2 years

Rate = SI × 100/ P × T

=> 100×100/100×2

=> 100/2

=> 50%

Rate= 50%

Answer 2

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