An amount doubles itself in 15 years. what is the rate of interest ?

7.85 %
9.41%
6.66 %
4.21 %

Correct Answer: 6.66 %

Explanation:

Let the principle be Rs. P
As the amount double itself the interest is Rs. P too
So P = P x r x 15/100
=> r = 100/15 = 20/3 % = 6.66 %.

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