Qi. A sum of money doubles itself in 5 years. Find the rate of Simple Interest.
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If it doubles in 5 year, the the approximate interest rate is 72/5 = 14.4%. You can flip this on its head and ask how long will it take to double your money at different rates of return. So, for example, if the return is 10%, you will double your money in 72/10 = 7.2 years.
7.2 years.
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