Question

sum of money doubles itself in 10 years. what is its interest

Answer 1

Hi..!

Let the sum be Rs x .

Then , amount = Double the sum = Rs 2x .

Thus, SI = A - P = 2x - x = Rs x

Time = 10 years .

Using formula , R% = SI * 100 / T * P = x * 100 / 10 * x = 10% p.a

Answer : Hence, rate of interest = 10% p.a .

Thanks...!!!!