Question

5. In what time will a sum of money double itself at 6 % p.a. simple interest?
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Answer 1

Answer:

Approximately 16.66 or 100/6

Step-by-step explanation:

Let the time be x and the sum of money/ principal be 1

Formulae: $\frac{PNR}{100} = SI$, $A = P + SI$

Because the sum of money is doubling, the amount is 2

so, SI = 2-1 = 1

So, the formula is:

$\frac{X*1*6}{100} = 1$

$\frac{6x}{100} = 1$

$6x = 1 * 100 (Transpostion)$

$x = 100/6$ ≈ 16.6666