Question

Find the time in which a sum of money gets doubled at the interest rate of 8% per annum​

Answer 1

Answer:

In 12.5 years interest will be exactly equal to Principal.

So Amount will be equal to twice of Principal.

Hence, money gets doubled.

Step-by-step explanation:

Interest = PRT/100

Time = Interest×100 / P×R

As interest should be equal to principal for double money.

Time = P×100 / P×8

Time= 12.5 years.

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