A of money doubles itself in 8 years. What is the rate of interest? (2024)

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Let the sum of money that's principal be x.

Time=8 years

Amount after 8 years becomes double=2x

Therefore,

Simple interest=Amount -principal=2xx=x

Rate per annum =S.I×100P×T=x×100x×8=1008=252=12.5%

Then,

We get interest of 8years is 12.5%

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A of money doubles itself in 8 years. What is the rate of interest? (2024)
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