find the rate at which a sum of money will double itself in 2 years , if the intrest is compounded annually
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let sum=x
amount =2x
time=2 years
A=p(1+r/100)^2
2x=x(1+r/100)^2
2x/x=(100+r/100)^2
2=(100+r/100)^2
√2=100+r/100
1.414=100+r/100
by transpose
1.414×100=100+r
141.4=100+r
by transpose
r=141.4-100
=41.4%
amount =2x
time=2 years
A=p(1+r/100)^2
2x=x(1+r/100)^2
2x/x=(100+r/100)^2
2=(100+r/100)^2
√2=100+r/100
1.414=100+r/100
by transpose
1.414×100=100+r
141.4=100+r
by transpose
r=141.4-100
=41.4%
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