In how much time, will a sum of money double itself at 12.5% per annum rate of interest.
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Answer:
the rate of interest to double a money in 8 years will be 12.5% per annum.
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Step-by-step explanation:
let principle be x
rate =12.5 percentage
amount =2x
simple interest =2x -x=x
SI =P*R*T/100
x=x*12.5*T/100
T=100/12.5
T=8
Time =8 year
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