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If any amount double after 10 years at simple interest then what will be the annual interest rate

If any amount double after 10 years at simple interest then what will be the annual interest rate

Grade:11

1 Answers

Arun
25750 Points
6 years ago
Let the principal be P and the rate of interest be R% p.a. Then, in time = 10 years, Simple Interest = Principal = P.
 
P = P * R * 10/100
R = 10%
 
 

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