1.

At what rate of simple interest will a sum of money double itself in 18 years?1). \(5\frac{5}{9}{\rm{\% }}\)2). \(5\frac{2}{3}{\rm{\% }}\)3). \(5\frac{5}{2}{\rm{\% }}\)4). 5%

Answer»

LET the principal amount be RS. X.

Simple interest will a sum of money double itself in 18 years. So, the interest will also be Rs. x

Simple interest = P × t × r/100

[Where, P = principal amount, t = duration, r = interest rate]

x = x × 18 × r/100

$(\RIGHTARROW r = \frac{{100}}{{18}} = 5\frac{5}{9})$


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