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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% |
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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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