At what rate percent of simple interest will a sum of money double itself in 44 years?

At what rate percent of simple interest will a sum of money double itself in 44 years?

Answer/Solution

2.27 %

Steps/Work

Let sum = x. Then, S.I. = x.
Rate = (100 * S.I.) / (P * T) = (100 * x) / (x * 44)
= 100/44 = 2.27 %
ANSWER:E

Gain Calculator / Auto Solver

At what rate percent of simple interest will a sum of money double itself in years?

Calculated Answer

2.2727272727273

Step by Step Solution

In order to solve problem, you must evaluate 100 / n₀.

n₀ =	44

100 / n₀
Evaluate 100 / n₀ = 2.2727272727273
2.2727272727273
The answer to the problem and the result of 100 / n₀ is 2.2727272727273