02. The time period for a sum of money to double itself 12% SI per annum is:"
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Answer:
The answer to this question is 8 1/3 years.
Step-by-step explanation:
According to this question,
A sum of money becomes double of itself at 12% p.a.Now we have to find the time.
Let us take P = 100
Amount = P(2) = 100 X 2 = 200
Rate of interest = 12%
Interest = Amount - Principle = 200 - 100 = 100
Formula to find Time period:-
T = S.I X 100/P X R
T = 100 X 100/100 X 12
T = 8 1/3 Years.
A certain sum of money takes 8 1/3 years to double itself at 12% p.a.
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