Problema Solution
calculate the rate of interest of a sum of money that will double itself in 10 years
Answer provided by our tutors
P = x the principal
t = 10 years
I = 2x - x = x the interest
r = ? the rate of interest
I = r*P*t
r = I/(P*t)
r = x/(x*10)
r = 1/10
r = 0.1
r = 10%