An amount of money double itself in 10 years. What is the rate of intr

1.	An amount of money double itself in 10 years. What is the rate of intrest ?
Answer» Let the sum of money that's PRINCIPAL be x. Time = 10 YEARS Amount after 10 years becomes double = 2x Therefor, Simple INTEREST = Amount - Principal = 2x-x = x Rate per annum = SI×100/ P×T = x×100/x×10 = 100/10 = 10%

An amount of money double itself in 10 years. What is the rate of intrest ?

Answer»

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

Time = 10 YEARS

Amount after 10 years becomes double = 2x

Therefor, Simple INTEREST = Amount - Principal = 2x-x = x

Rate per annum = SI×100/ P×T = x×100/x×10 = 100/10 = 10%

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An amount of money double itself in 10 years. What is the rate of intrest ?

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