A woman deposited a sum of money in the bank at 10% simple interest. How long will it take the money to double?
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Answer:
20/11
Step-by-step explanation:
let the amount of money is x rs
the interest of x rs @ 10% in 1 year is x/10 rs
then after 1 year the amount the (principle + interest) of x rs. is 11x/10 rs.
the left amount is (2x-11x/10)rs.
= 9x/10 rs.
(11x/10) rs. - 1 yr.
1 rs. - 1/
11x/10 yr.
2x rs. - (2x * 10/11x) yr.
= 20/11 yrs.
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