Question

if a sum of money doubles itself in 16 years then the rate of simple interest is
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Answer 1

Answer:

your answer and

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Step-by-step explanation:

the money Doubles itself it means 100% money is added.

so,

interest *time =100%

interest *16 =100%

interest = 100/16

=6.25

so the simple interest is 6.25% per year.

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