Question

find the time in which sum of money gets double at the rate of interest 8% per annum

Answer 1

Answer:

21

Step-by-step explanation:

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Answer 2

Answer:

10 years

Step-by-step explanation:

Let the principal be x

So, Amount = Double of principal = 2x

Rate of interest = 8%

Formula :  

A=P(1+r)^tA=P(1+r)

t

2x=x(1+0.08)^t2x=x(1+0.08)

t

2=(1+0.08)^t2=(1+0.08)

t

t=9.006t=9.006

So, a sum of money double itself at 8% p.a in 10 years.

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