in how many years a deposit of range 15000 will double at 8% per annum
Answers
Answered by
6
Given ,
Principal = Rs. 15000
Rate of interest = 8% per anum
Amount = Rs. 15000 * 2 = Rs. 30000
Therefore ,
Interest = Rs. (30000-15000) = Rs. 15000
Let the time period be assumed as t years
We know ,
S.I. = (P*R*T)/100
=> 15000 = (15000*8*t)/100
=> 15000 * 100 = 15000 * 8 * t
=> t = (15000 * 100) / (15000 * 8)
=> t = 12½ years or 12.5 years
Answer :- The time period for the principal to double is 12 years and 6 months .
archana1984:
but answer is 6year
Did you posted the question because your answer was not matching ?
probably your answer in the book is wrong
but teacher told that
Not sure about that... It must be compound interest then instead of simple interest
its ok
Answered by
2
Answer:
25/2 years is your answer
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