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Question 71
If in 13 years a fixed sum doubles at simple interest, what will be the interest rate per year? (Correct to two decimal places)
Solution
Let the principal be Rs. x.
If a fixed sum doubles at simple interest. So,
Interest = x
p = x
t = 13 years
rate = r
Interest = $$\frac{prt}{100}$$
x = $${x \times r \times 13}{100}$$
r = 100/13 = 7.69%
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