Question

(iii) If a principal becomes twice of its amount in 10 yrs., the rate of simple interest per
annum is​

Answer 1

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.