he simple interest earned on a certain amount is double the money when invested for 15 years. What interest rate is offered?Options 26.66% 12% 30% 13.33%
Question
Solution 1
The problem states that the simple interest earned on a certain amount is double the money when invested for 15 years. This means that the interest earned is equal to the principal amount.
The formula for simple interest is I = PRT/100, where: I = Interest P = Principal amount (the initial amount Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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