Question

Find the rate of interest at which a sum of money doubles itself in 8 yrs as Simple Interest

Answer 1

Answer:

Step-by-step explanation:

let the principle be x

so since the money doubles itself let the interest be I(I = x)

time = 8 yrs

rate = 100 I/8 x. Since I is equal to x we can replace it with x

= 100 x/8 x

= 12.5 p.a