Question

In How many years will a certain sum of money double itself at the rate of 12% per annum​

Answer 1

Answer:

Since it is mentioned that the interest is simple, we can simply divide 100 by 12 to get the time period…that would be 8 years and 4 months.

100 / 12 = 8 and 1/3 = 8 years and 4 months.

There is another approach for the same problem.

Since we are given the interest rate as 12% Simple Interest - it means the rate of interest is 1 percent per month…1 rupee per month on 100 rupees…so, it would take 100 months to get 100 rupees interest and thus double the original amount…

!00 months is 8 years and 4 months.

Step-by-step explanation:

really

Answer 2

x×100/x×12 = 8 years 4 months

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