Question

At what time the sum Rs. 5000 will be doubled at the interest
of 10% per annum?
(Ans: 10 years)​

Answer 1

Answer:

Interest of 5000 at 10% = 500

5000/500 = 10

10 year

Answer 2

The sum of money will double in 10 years.

Given:

principal amount of money = Rs. 5000

rate of interest = 10% per annum

To Find:

we need to find the time by which the money will double

Solution:

we know that the simple interest on a principal amount P at the rate of r% for t years is calculated as-

Simple interest = Prt/100

in order for the sum to double, the simple interest should accrue to Rs. 5000,

⇒ 5000 = (5000 × 10 × t)/100

5000 = 50000t/100

5000 = 500t

t = 5000/500

t = 10

Thus, the sum of money will double in 10 years.

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