Question

The simple interest earned on a certain amount is double the money when invested for 15
years.What interest rate is offered?

Answer 1

Answer:

let principle be x

amount=2x

si =2x-x

=x

time =15years

Rate =si×100/p×t

=x×100/x×15

=100/ 15

=20/3

=6⅔ % p. a.