Given:
Principal = P
Amount = 2P
Time 10 years
Required:
Rate percent per annum.
Explanation:
The amount is given as,
[tex]A\text{ = P + I}[/tex]Interest is calculated as,
[tex]\begin{gathered} I\text{ = }\frac{PR\times10}{100} \\ A-P\text{ = }\frac{PR\times10}{100} \\ 2P-P=\frac{PR\times10}{100} \\ \end{gathered}[/tex]The rate of interest is calculated as,
[tex]\begin{gathered} P\text{ = }\frac{PR}{10} \\ R\text{ = 10} \end{gathered}[/tex]Answer:
Thus the rate of interest is 10%.
