At what percent of simple interest will a sum | vedclass

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(B) Let the principal amount be $P$.Since the sum doubles itself,the final amount $A = 2P$.Therefore,the Simple Interest $(S.I.)$ is $A - P = 2P - P =

Vedclass · Accepted Answer

$6 \frac{2}{3} \%$

Vedclass · Answer

(B) Let the principal amount be $P$.Since the sum doubles itself,the final amount $A = 2P$.Therefore,the Simple Interest $(S.I.)$ is $A - P = 2P - P = P$.We know the formula for Simple Interest is $S.I. = \frac{P 	imes R 	imes T}{100}$,where $R$ is the rate of interest and $T$ is the time in years.Substituting the values: $P = \frac{P 	imes R 	imes 15}{100}$.Dividing both sides by $P$,we get $1 = \frac{15R}{100}$.$R = \frac{100}{15} = \frac{20}{3} = 6 \frac{2}{3} \%$.Thus,the rate of interest is $6 \frac{2}{3} \%$.

At what percent of simple interest will a sum of money double itself in $15$ years?

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