Question

in how many years a sum of money will become double at 6% simple interest per annum?​

Answer 1

Answer:

16⅔ years

Step-by-step explanation:

Let the sum of money be P.

Amount (A) = 2P

Simple Interest (SI) = 2P-P = P

Rate (R) = 6%

Let the number of years be T.

SI = PRT/100

=> P = P×6×T/100

=> T = 100/6

=> T = 16⅔ years