The simple interest earned on a certain amount is double the amount when invested for 10 years. what is the interest rate being offered?

10%

Explanation:

The formula to calculate the simple interest (I) is given by :-

Final amount :    

Given : The simple interest earned on a certain amount is double the amount when invested for 10 years.

i.e A = 2P

Put this in equation (2), we get

Put the value of I in (1), we get

Since t=10 years {given} , then

In percent ,

Hence, the interest rate is being offered = 10%

if i need to borrow money for anything, it would be for something like a house or an apartment but, that depend on the situation.

is this good enough?

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