Given:
Simple Interest (SI) = 2×Principle (P)
Time period (T) = 8 years
Formula used:
See Also
At what rate of simple interest a certain will be doubled in 10 years ?10%12%13%15%At what rate a sum doubles itself in 8 year 4 months.At what rate percent per annum simple interest will a of money double itself in 6 years?14.615.613.616.6At what rate percent per annum will a sum of money double in 16 years.⇒ SI = (P×R×T)/100
SI= Amount - P
Calculation:
According to the question,
Let the sum of money that's principal bex
Amount after8years becomes double = 2x
⇒SI= Amount - P= 2x − x = x
⇒Rate per annum= (SI×100)/(P×T)
⇒R = (x×100)/(x×8)
⇒R = 100/8 = 12.5% per annum.
∴ The rating percentage of the interest will be 12.5%.
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