Question

(I) Find the rate of interest if a sum of money gets doubled in 16 years.
(II) Find the rate of interest if a sum of money gets doubled in 8 years.​

Answer 1

Answer:

1.The money doubles itself, it means 100% money is added. So the simple interest is 6.25% per year.

2.=PRT100. Where P is principal amount, R is rate of interest and T will be time period. Hence, the rate of interest to double a money in 8 years will be 12.5% per annum

Step-by-step explanation:

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