Question

How to solve this question-At what rate of simple interest will a sum of money double itself in 20 years?

Answer 1

Answer:

rate = 5%

Step-by-step explanation:

Let P = x

so Amount A = 2x

now SI = A - P = 2x -x = x

we know SI = PRT/100

                R = SI*100/(P*T)

                    = x*100/(x*20)

                     = 100/20 %

                 R  = 5%