Question

A sum of money double itself in 8 years find the rate of interest how many times will it become 10 years

Answer 1

Answer:

2.25 times

Step-by-step explanation:

Let the Principle be Rs.100

As the money doubles in 8 years; the amount is Rs.200.

Hence the interest earned is Amount - Principle = 200 - 100 = Rs.100

Let the interest rate be r

Hence, 100 = 100*8*r/100

r = 100/8 = 12.5%

Now we need to compute the amount for a tenure of 10 yrs.

Amount = 100 (1 + 10*12.5/100) =  100 + 125 = 225

Hence is 10 years the principle will be 225/100 = 2.25 times