Show Exercise 1
Is a sum of money at simple interest doubles in 6 years it will become 4 times in?=18 years.
At what rate will a sum of money doubles itself in 6 years?⇒R=6x100x=16. 6%
In what time will a sum double itself at 4% simple interest?=(x×4100×x)years = 25 years.
What is the rate of interest if amount doubles in 5 years?Detailed Solution
If a sum doubles itself in 5 years by simple interest. Calculations: Let P be the principal amount and R be the rate of interest. ∴ The rate of simple interest p.a. is 20%.
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