How many y ear will be required to double the principal amount of rs. 5000 by simple interest at the rate of p.c.pa.
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Step-by-step explanation:
Assuming annually compounding interest, money will double at 10% in:
2=(1+.1)^y where y is the amount of time in years.
So:
2=(1.1)^y
log 2=log 1.1^y
=y log l.1
y=log 2/ log 1.1
=7.27254 years .
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