Question

find the rate at which a sum of money will double itself in two 2years , if the intrest is compound ded annually.

Answer 1

Let the rate of interest be R% per annum

 

Let Principal = P

 

Amount = 2 × P = 2P

 

Time = 2 years

 

Recall the formula,  

 

 

 

 

 

R = (1.414 −1) ×100

 

R = 41% (Approximately)

Answer 2

Hope its helpful to u