Find the rate percent when a sum of money double itself in 20 years
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given,
Time= 20 years
let principal be 100 . Then, double itself = (100×2)
Amount =200
SI = A - p
200-100 = 100
________________
Rate = SP×100/P×T
----------------------------
=100×100/100×20
= 10000/2000
= 5
Hence, the required rate is 5%
Time= 20 years
let principal be 100 . Then, double itself = (100×2)
Amount =200
SI = A - p
200-100 = 100
________________
Rate = SP×100/P×T
----------------------------
=100×100/100×20
= 10000/2000
= 5
Hence, the required rate is 5%
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