3 1200 is invested at 8% simple Interest per annum. In how much time will it double itself?
annum simple interest and received an interest of
of money at 10%
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Answer:
Given P = 1200, R = 8%, Amount = 1200 + 1200 = 2400.
We know that SI = PRT/100
We know that SI = A - P.
A - P = PRT/100
2400 - 1200 = 1200 * 8 * T/100
1200 = 96T
T = 1200/96
= 12.5 years.
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