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At what simple interest rate percent per annum will a sum of money double in 9 year?

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At what simple interest rate percent per annum will a sum of money double in 9 year?
posted Jul 23, 2018 by Puneet Batra

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1 Answer

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Simple interest(SI) = Principle(P) * Time duration(T) * Rate/100(R)
Final Amount = Principle + Simple Interest

For the above condition to be true: Simple Interest = Principle

P = P*9*R/100
R = 100/9 = 11.1111%.

answer Jul 23, 2018 by Tejas Naik
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