Question

Find the period after which Rs. 5000 would be double at 8 p.c.pa

Answer 1

The time required to double the amount is 12.5 years.

Step-by-step explanation:

Given, Principal = P = Rs. 5000

Rate of interest = R = 8%

Amount = A = 2 x 5000 = Rs. 10000 (As amount will be doubled)

Time = T in years

Simple interest = S.I

A = P + S.I = P + $\frac{PRT}{100}$

=> 10000 = 5000 + $\frac{5000 \times 8 \times T}{100}$

=> 10000 = 5000 + 400T

=> 400T = 10000 - 5000 = 5000

=> T = $\frac{5000}{400}$ = 12.5 years

Hence, the time required to double the amount is 12.5 years.

Answer 2

Answer:

the answer will be 12.5 years