Question

the rate of simple interest per annum a sum of money grows to one and a half times itself in 8 years is
please explain step by step​

Answer 1

Answer:

Let the sum of money that's principal be x.

Time=8 years

Amount after 8 years becomes double=2x

Therefore,

Simple interest=Amount -principal=2x−x=x

Rate per annum =  

P×T

S.I×100  =  x×8 x×100 =  8 100 =  2 25 =12.5%

Then,

We get interest of 8years is 12.5%

Answer 2

Answer:

Per annum a sum of money grows to one and a half times itself in 8 years is 6½%.