Question

7. In what time would a sum of money will double itself at 8% of
markup? Whole explanation ​

Answer 1

Answer:

10 years

Step-by-step explanation:

10 years.

Step-by-step explanation:

Let the principal be x

So, Amount = Double of principal = 2x

Rate of interest = 8%

Formula : A=P(1+r)^tA=P(1+r)

t

2x=x(1+0.08)^t2x=x(1+0.08)

t

2=(1+0.08)^t2=(1+0.08)

t

t=9.006t=9.006

t\sim 10t∼10