Question

The rate at which sum will become 10 times itself in 20 years at simple interest is

Answer 1

2 parsent interest is

Answer 2

Answer:

The rate is 45%

Step-by-step explanation:

Let the amount be p.

The formula for simple interest is given by

SI= p×r×t

In 20 years the simple interest is given by

SI = 20pr

Hence, the amount in 20 years will become p+20pr

Now, we have been given that in 20 years the amount p will be 10 times means 10p. Thus, we have

$p+20pr=10p\\9p=20pr\\\\r=\frac{9}{20}\\\\r=\frac{9}{20}\times 100\\\\r=45\%$

Hence, the rate is 45%