Question
A certain sum of money will be doubled in 25 years at
the rate of simple interest percent per annum is:Solution
SI = (P × R × T)/100 Amount, (A) = P + SI Let P be the principal. SI = 2P – P = P ⇒ P = (P × R × T)/100 ⇒ P = (P × R × 25)/100 ⇒ R = 100/25 = 4%
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