Question

What is the rate per cent p.a. if a sum doubles itself in 17 years at compound interest ?​

Answer 1

Step-by-step explanation:

Let the sum be x. As per given it doubles itself in 17 years ie it becomes 2x in 17 years at compound interest.

=> x (1+r/100)^17 = 2x or

=> (1+r/100)^17 =2x/x =2

2 = (1+r/100)^17

2^(1/17) = 1+r/100

->2^(1/17) - 1 = r/100

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