3 years ago

A sum of money at simple interest doubles itself in 10 years.Find the rate percent per annum

Mathematics

1 answer:

Otrada [13]3 years ago

5 0

Answer:

10%

Explanation :

To solve the problem, we should know the definition of annual simple interest. We have,

Simple Interest (I) = P×R×t100

Where, P= principal amount

R = simple interest annual rate

t = time period of the annual simple interest

Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double.

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A sum of money at simple interest doubles itself in 10 years.Find the rate percent per annum​

A sum of money at simple interest doubles itself in 10 years.Find the rate percent per annum