Question

A certain sum of money doubles itself in 8 years. In how much time will it become 4 times of itself at the same rate of interest?


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Answer 1

Answer:

According to Simple Interest (S.I) formula. . Where P is principal amount, R is rate of interest and T will be time period. Hence, the rate of interest to double a money in 8 years will be 12.5% per annum.