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If a sum of money doubles itself in 5 years at simple interest, what is the rate
Practice Questions
Q1
If a sum of money doubles itself in 5 years at simple interest, what is the rate of interest?
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12%
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Questions & Step-by-Step Solutions
If a sum of money doubles itself in 5 years at simple interest, what is the rate of interest?
Steps
Concepts
Simple Interest
– Understanding how simple interest is calculated and the relationship between principal, rate, and time.
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