Question

0. In how many years will a sum of money double itself at 18.75% per annum simple interest?​

Answer 1

Answer:

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Explanation:

Let The Principal be x and time y

R = 18.75%

A = 2x

A = P + I

2x = x + x*18.75*y/100 -----------[I = PRT/100]  

2x = x + 18.75xy/100

2x - x = 18.75xy/100

x = 18.75xy/100

100x = 18.75xy

100 = 18.75y

100/18.75 = y

y = 5.3333 Years

y = 5 Years 4 Months