A sum of money doubles in 16 years. Find out the rate of interest required.
Let principal = P. Then, S.l. = P and T = 16 yrs.
Rate = (100 * P)/(P * 16)% = 6 1/4% p.a.
why s.i and principal =p, plz explain
cuz they hav asked that the money will doubles itself na so S.I=P
Why si and principle is same
because it doubles
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