Question

if a principal becomes a twice of its ammount in 10 years the rate of simple interest per annum is?​

Answer 1

Answer:

may be 7.2

Step-by-step explanation:

It is called Rule of 72. Divide 72 by the interest rate, and it will give you the number of years it will take for your money to double…. 72/7.2=10… So with a rate of 7.2% your money will double in 10 years

Answer 2

• It is called Rule of 72. Divide 72 by the interest rate, and it will give you the number of years it will take for your money to double…. 72/7.2=10… So with a rate of 7.2% your money will double in 10 years.

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