At what rate percent of simple interest will a sum of money double itself in 22 years?

At what rate percent of simple interest will a sum of money double itself in 22 years?

Quiz

Answer/Solution

4.54 %

Steps/Work

Let sum = x. Then, S.I. = x.
Rate = (100 * S.I.) / (P * T) = (100 * x) / (x * 22)
= 100/22 = 4.54 %
ANSWER:B

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