Question

A certain sum of money is invested at 9% in compound interest.Find the time taken to double itself

Answer 1

Step-by-step explanation:

imagine,sum of money is x

so,double is:2x

so,interst is :2x-x=x

we know,time(n)=Interst(I)/money(p)×rate of interest(r)

so,n=x/9x/100

n=x into 100/9x

n=100/9

so,n=11.11 year...