Question

if a sum of money becomes double in 8 years find the rate of interest​

Answer 1

Answer:

the rate of interest is 12.5%

Answer 2

Answer:

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Step-by-step explanation:

Let the sum of money that's principal be x.

Time=8 years

Amount after 8 years becomes double=2x

Therefore,

Simple interest=Amount -principal=2x−x=x

Rate per annum =P×TS.I×100=x×8x×100=8100=225=12.5%

Then,

We get interest of 8years is 12.5%