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Question@ At what rate percent of Si per annum will a sum of money be double itself in 8 years?

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Answer 1

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$\huge{\bold{SOLUTION:-}}$

Given:

→ Principal(P) = 100

→Amount (A) = 100+100
= 200

→ Time = 8 Years

➡ To Find:- 

At what rate of money double?

➡ Method Of Solution;-

Let the actual money be 100

•°• Simple Interest =100

Also, Amount = 200

→ We know that SI = P × R × T /100

Now, Substitute the Given value in Simple Interest Formula.

SI = P × R × T /100

→ 100 = 100 × R × 8/ 100

→ 100 × 100 = 800 × R

→ 10,000 = 800× R

→ R = 10,000/800

→ R = 12.5 %

Hence, At 12.5 % of SI per annum will a sum of money be double itself in 8 years.

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Answer 2

$let \: principal \: = x \\ \\ amount \: = x + x = 2x \\ \\ time = 8years \\ \\ interest \: = amount - principal \: \\ \\ = 2x - x = x \\ \\ rate = (interest \: \times 100) \div (principal \times time) \\ \\ = (x \times 100) \div 2x \times 8 \\ \\ = 6.25\%$