Question

At what rate percent per annum will a sum of money double itself in $10years$.

Answer 1

As we know that,

$A=P(1+\frac{R\times t}{100})$

Given:-

A = 2 P$

$t=10$ years

$R=?$

Therefore,

$2P=P(1+\frac{10\times R}{100})$

$2-1=\frac{R}{10}$

$\Rightarrow R=10\%$