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Calculate the simple interest rate per annum at which sum will get double in 4 years?1). 202). 253). 504). 35.5 |
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Answer» LET the principal be x, then amount will be 2x after 4 years Simple Interest (SI) = PRT/100, where P = Principal, R = Rate of Interest and T = Time Amount = P + SI ⇒ 2x = x + (xRT/100) ⇒ x = xRT/100 ⇒ R = 100/4 ∴ R = 25% |
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