Question

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AT WHAT RATE PERCENT OF INTEREST PER ANNUM WILL A SUM OF MONEY DOUBLE IN 8 YEARS?????


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Answer 1

${\texttt{\huge{\blue{Heyaa... }}}}$

% per annum will a sum of money gets double in eight years

RATE = [(100 x P)/ (P x 8)] %

RATE = 25/2 % = 12.5 % (answer) !!!

$\ddot{\smile} \texttt{ \: Thanks}$

Answer 2

Answer:

12(1/2)%

Step-by-step explanation:

Let the principal = P.

Then, Simple Interest = P and Time = 8 years.

Formula for Simple Interest = PTR/100.

∴ Rate = (SI * 100)/P * T

=> (P * 100)/(P * 8)

=> (100P/8P)

=> 100/8

=> 25/2

=> 12(1/2)% per annum.

Hence, Rate of interest = 12(1/2)%

#Hope my answer helped you