A sum of money doubles in 16 years. Find out the rate of interest required.

5 ¼%

6 ¼%

7 ¼%

8¼%

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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