If interest rates are 7%, how long will it take for 50,000 to become $100,000?
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Answer:
Rate=7%
principal=₹50000
Amount=₹100000
interest=₹100000-50000
=₹50000
Time =?
time=100×SI/R×P
=100×50000/50000×7
=100/7%
=14and2/7years
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