Question

Find the time in which a sum of money gets doubled at the interest rate of 6 percent per annum plz answer ​

Answer 1

Given:

Interest rate @6%

To Find :

Find the time in which a sum of money gets doubled

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Sum of money gets doubled which means principal money gets doubled:

=>Amount=2(principal)

=>A=2P

Simple Interest =Amount -Principal

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Formula for finding Simple Interest (S.I)

$\bold{\boxed{\purple{S.I= \frac{P \times R\times T}{100}}}}$

Given rate of interest @6%

$S.I= \frac{p \times 6 \times T}{100}$

=>Above we find S.I=P so, substitute P in place of S.I

$= > P= \frac{p \times 6 \times T}{100}$

$= > T = \frac{P \ \times 100}{P \times 6}$

$= > T = \frac{100}{6} = 16.66$

Hence,Time period is approx. 16.66 years

Other Formulas related to this :

When amount have to pay after certain period of time and interest of rate is given :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100} \Bigg)}^{t}}}$

when interest if half yearly then amount will be :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100\times2} \Bigg)}^{2t}}}$

when interest is quarterly then amount will be :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100\times4} \Bigg)}^{4t}}}$

Answer 2

Given:

Interest rate @6%

To Find :

Find the time in which a sum of money gets doubled

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Sum of money gets doubled which means principal money gets doubled:

=>Amount=2(principal)

=>A=2P

Simple Interest =Amount -Principal

ㅤㅤㅤㅤㅤㅤㅤㅤ=2P-P

ㅤㅤㅤㅤㅤㅤㅤㅤ=P

Formula for finding Simple Interest (S.I)

$\bold{\boxed{\purple{S.I= \frac{P \times R\times T}{100}}}}$

Given rate of interest @6%

$S.I= \frac{p \times 6 \times T}{100}$

=>Above we find S.I=P so, substitute P in place of S.I

$= > P= \frac{p \times 6 \times T}{100}$

$= > T = \frac{P \ \times 100}{P \times 6}$

$= > T = \frac{100}{6} = 16.66$

Hence,Time period is approx. 16.66 years

Other Formulas related to this :

When amount have to pay after certain period of time and interest of rate is given :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100} \Bigg)}^{t}}}$

when interest if half yearly then amount will be :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100\times2} \Bigg)}^{2t}}}$

when interest is quarterly then amount will be :

$\bold{\boxed{A = P {\Bigg(1 + \frac{R}{100\times4} \Bigg)}^{4t}}}$