Question

8) In how many years will a sum of money double itself
At 8 % P.a?​

Answer 1

Step-by-step explanation:

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 = 12.1/2 Years

10 years

So, a sum of money double itself at 8% p.a in 10 years.

I have 2 answers one but you see I'm confused