Question

Ifa principal becomes hice of its amount in 10 yrs, the rate of simple interest per
annum is​

Answer 1

Answer:

10°/•

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.

 For a SIMPLE interest rate the answer is 10%.

So you double your money in 10 years with a 10% simple interest rate, and here is why, so let’s step through it quickly:

P = initial principle

i = simple interest percent

N = number off yesrs invested

F = Final investment after N years

So if you start with P amount of money and your interest rate is i% yearly, then after N years your money investment will be:

F = P + N*(i/100)*P

And if u want your money doubles (F=2P) in 10 years (N=10), then we have

2P = P + 10*(i/100)*P

divide both side by P in the above equation:

2 = 1 + 10*(i/100)

Which then i=10

So with a 10% yearly simple interest, your investment will double in 10 years.

Answer 2

Answer:

10 percent

Step-by-step explanation:

We know,

A = P + I , where P is Principal

I is Interest and

A is amount

It is given that A = 2P

=> 2P = P + I

=> P = I , i.e Pricipal is equal to Interest

BUT WE ALSO KNOW THAT ,

I = PRT

100

Therefore,

PRT = P

100

=> RT = 100

So, R = 100

T

Here T = 10 yrs

So R = 100/10 = 10 PERCENT