44. a sum of money double itself in 16 yr at simple interest. annual rate will be

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44. a sum of money double itself in 16 yr at simple interest. annual rate will be
Shortcut Trick

Let the Principal be 100.

P = 100,  then A = 200 and SI will be 200 - 100 = 100 

SI = 100 for 10 years 

Rate = 100/10 = 10%.

∴ The rate of interest is 10%.

Traditional method:

Given: 

Time period = 10 years

Formula used:

SI = (P × R × T)/100

A = P + SI

Where, P = principal, R = rate, T = time, SI = simple interest

Calculations:

The sum of money is 2P

SI = 2P - P

⇒ P = (P × R × 10)/100

⇒ 1 = R/10

⇒ R = 10%

∴ The rate of interest is 10%.

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Let Principal value = P

Amount = 2P

Also, Simple Interest = Amount - Principal

Now, Simple Interest = Principal × Rate × Time

Amount - Principal = Principal × Rate × Time

2P - P = P × Rate × 16

P = P × Rate × 16

Rate = 1/16 = 0.0625

So, Rate = 0.0625 × 100 = 6.25%

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44. a sum of money double itself in 16 yr at simple interest. annual rate will be

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Updated On: 27-06-2022

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`10%``6 1/4%``8%``16%`

Answer : B

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44. a sum of money double itself in 16 yr at simple interest. annual rate will be

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At what rate of interest will a sum of money double itself in 16 year?

Then S.I. = P and T = 16 yrs. Rate = 100 x P/P*16% = 6 ¼ % p.a.

What will be the annual rate of simple interest for a sum to double?

Therefore, r=12100=831percent.

What is the rate of interest if sum of money Triple itself in 16 years?

Hence, we get the rate of interest as 12.5 %.

At what rate percent will a sum of money double itself in 4 years?

⇒R=6x100x=16. 6%