Simple Interest Practice Test 2

Question : 37 of 40

Marks: +1, -0

At what rate per cent per annum will a sum of money double itself in 18 years?

Solution:

Let the principal be P, then SI = P and T = 18 years

∴\rate ={100×SI}/{P×T}%

={100×P}/{P×18}%

=100/18%=5 5/9%

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