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Find the rate of simple interest when the money doubles itself in 12 ½ yearsPLEASE ANSWER FAST |
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Answer» ume that ↝ SUM of money invested be Rs pSo, ↝ AMOUNT = Rs 2p↝ Time Period, n = 12.5 yearsLet rate of INTEREST be r % per annum.We know, ↝ Simple interest = Amount - Principal So, ↝ Simple interest = 2p - P = pThus, we have Principal = Rs pSimple interest = Rs pTime = 12.5 years Rate = r % per annumWe know that, Simple interest SI, on a certain sum of money of Rs p invested at the rate of r % per annum for n years is So, on substituting the VALUES, we get More to know :- Amount on a certain sum of money of Rs p invested at the rate of r % per annum compounded annually for n years is Amount on a certain sum of money of Rs p invested at the rate of r % per annum compounded semi - annually for n years isAmount on a certain sum of money of Rs p invested at the rate of r % per annum compounded quarterly for n years is |
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