Find the rate of interest if a sum of money gets doubled in 16 years.
saahithi27:
compound interest or simple interest?
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let the principle be 100
so Interest= P×R×T by 100
= 100×R×16 by 100
=16R
since....R= I×100 by P×T
=16R × 100 by 100 × 16
= 1R
so Interest= P×R×T by 100
= 100×R×16 by 100
=16R
since....R= I×100 by P×T
=16R × 100 by 100 × 16
= 1R
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