14. In how much time will a sum of money double if invested at the rate of 8% simple interest per annum ?
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Answer:
Let sum of money=Rs. x
Therefore amount=Rs. 2x
Interest=sum∗time∗R/100=x∗time∗8/100
=8x∗time/100
Amount=sum+interest
2x=x+8x∗time/100
2x=100x+8x∗time/100
200x=100x+8x∗time
100x=8x∗time
time=100x.
time=12.5years.
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