1. A certain sum of money will be doubled in 15 years at what rate of simple interest percent per annum?
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By: anil on 05 May 2019 01.57 am
Let assume that money is getting doubled in 15 years with R % perannum Simple Interest.
It means if principal amount is Rs P then same amount of interest is getting accumulated in 15 years at R% SI So using, SI = $$frac{PRT}{100}$$ P = $$frac{PxRx15}{100}$$ R = $$frac{20}{3}$$ = 6.66%
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It means if principal amount is Rs P then same amount of interest is getting accumulated in 15 years at R% SI So using, SI = $$frac{PRT}{100}$$ P = $$frac{PxRx15}{100}$$ R = $$frac{20}{3}$$ = 6.66%