Question

money Doubles itself in 12 years what is the rate of interest

Answer 1

Principal=x
Amount=2x
Simple interest=2x-x=x
Time=12years
Rate of interest=si*100/p*t
x*100/x*12=8.33℅
8.33℅is the rate of interest.

Answer 2

Answer R=8.33% per annum
For solution kindly go through the picture given below