1. A certain sum of money will be doubled in 15 years at the rate of simple interest percent per annum
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By: anil on 05 May 2019 01.58 am
Let the principal amount be $$P$$ Since, the money is doubled in 15 years, => Amount after 15 years = $$2P$$ => Interest after 15 years = $$2P - P = P$$ Let rate of interest be $$r$$% => S.I. = $$frac{P * r * 15}{100} = P$$ => $$r = frac{100}{15} = 6frac{2}{3}$$%
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