Question

how many years will be required to double the principal amount of 5000 buy simple interest at the rate of 4%​

Answer 1

Answer:

25 years

Step by Step answer:

Let the required time be t year

in t year interest on 5000 by 4% rate is given by

$= \frac{5000 \times 4 \times t}{100} = 200t$

Then amount in t years

$= 5000 + 200t$

Equating,

$5000 + 200t = 5000 \times 2 \Rightarrow200t = 10000 - 5000\Rightarrow \: t = \frac{5000}{200} = 25 \: years$