An investment scheme offers 10% interest compounded annually. How much time will the scheme take to double your money?
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Let the C P of the toy = Rs.1oo
If the gain is 12%, the first S P = 100 + 12 = Rs.112
If he had been sold Rs.33 more gain = 14 %
Therefore second S P = 100 = 14 = Rs 114 .
Difference in second S P and first S P = Rs.2 [ 114 - 112=2]
If Rs,2 is the difference in S P , cost price = Rs. 100
If the difference in S P is Rs.33, cost price = 100/2*33= 50 x 33 = Rs1650
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