Find the rate at which a sum of money will double itself in 3 years, if the interest is compounded annually.
Given,
Time = 3 years
Let rate = R %
Let principal = P
So, amount becomes = 2P
A = 
= 
= 
= 
Rate = 25.99%
16
Find the rate at which a sum of money will double itself in 3 years, if the interest is compounded annually.
Given,
Time = 3 years
Let rate = R %
Let principal = P
So, amount becomes = 2P
A =
=
=
=
Rate = 25.99%