find the time in which a certain sum in money double itself at 12% p.a rate of interest
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Answer:
12 years 14 months
Step-by-step explanation:
rate R=12%
sum becomes double, tha that means
SI = P
now we have
SI =PTR/100
P=PT*12/100
T=100/12
T=12.33 years
T = 12 years 4 months
in 12 years 4 months sum becomes double
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