Question

find the rate of interest at which a sum of money will double itself in the two years if the interest is compounded annually​

Answer 1

Answer:

R = 41.4%

Explanation :

According to question,

P =Rs. X then A = Rs. 2x and n= 2 years A = p(1+r upon 100) ^

2x = x( 1 +r upon 100 ^2

2 = (1+r upon by 100)^2

(1 + r upon 100) = under root 2

r/100 = 1.414 - 2

r = 0.414 into 100

Or r = 41. 5%

Answer 2

Answer:

R 41.4%

Explanation:

According to question,

P=Rs. X then A Rs. 2x and n= 2 years

A

p(1+r upon 100)

2x = x( 1 +r upon 100^2

2 (1+r upon by 100)^2

(1 r upon 100) = under root 2

r/100 1.414 - 2

r 0.414 into 100

Or r 41. 5%