At what rate a sum doubles itself in 8 year 4 months? – InterviewSolution

1.

At what rate a sum doubles itself in 8 year 4 months?

Answer»

Let principal(P) = 100

Time(T)= 8 year 4 months

= 8+1/3 = 25/3 years

NOW USING RATE = (SI*100)/PT

=100*100/(100*(25/3))

=100*3/(25)

=4*3

=12%

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