Question

Let us calculate, period of time for which a sum of money becomes twice having the rate of
simple interest of 6% per annum.​

Answer 1

Answer:

At 6% per annum simple interest, an original amount becomes three times, i.e, earns interest equal to twice the original amount in 33.333 years. For the same amount to earn 5 times itself in interest in the same period would require

5/33.333 = 15% interest

Answer 2

Step-by-step explanation:

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