Question

In how many year will a sum double itself at 8% per annum simple interest.

Answer 1

In 12 year 6 month it will double

Answer 2

we know that simple interest (SI) = PTR/100

where P=principal amount, T=time, R=rate of interest per annum

given R = 8%

also given that the sumble doubles itself .

2P = PT*8/100

2 = T*8/100

2*100/8 = T

200/8 = T

25 = T = n0.of years taken for a sum to double itself at 8% simple interest