7. Find the time ofter which the simple interest on
a sum of money will be double of the sum, at the
rate of 10% per annum
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Step-by-step explanation:
Interest=principal∗rate/100∗time
So here
Principal is 1000
Interest is 1000, as you want to double the investment.
Rate is 10%, so formula become this
=>1000=1000∗10/100∗T
=>T=(1000∗100)/(1000∗10)
=>T=10years
Hopes that answers your question.
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