Question

4. In what time will a sum of money double itself at 8% p.a.
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Answer 1

I think 12.5 years........

Let the principal (P) = ₹100

∴ Amount (A) = ₹100 × 2 = ₹200

∴ S.I. = A – P = ₹200 – ₹100

= ₹100

Rate (R) = 8% p.a.

∴ Time = (S.I. × 100)/(P × R) = (100 × 100)/(100 × 8)

= 25/2

= 12.5