Question

In how many years will a sum of money double itself at 10% per annum simple interest?

Answer 1

Give total of cash a chance to be 100 sum = 2 × 100 = 200 straightforward premium = 200 - 100 = 100 time = si × 100/important × rate 100 × 100/100 × 10.

In 10 years, a total of cash duplicates itself at 10% for every annum basic premium.

Answer 2

Answer:

In 10 years of time, the amount of money will get doubled at 10%

Explanation:

Let the principal amount be P, Simple interest amount is also P (This is because the money gets doubled if half the doubled amount will be the principal amount then the remaining amount will be its interest). Hence, the interest and the principal amount is equal here.

Rate at which the amount increases for every year is 10 for the money to be doubled at 10%.

Number of years be taken as “T”

Therefore  

$\begin{array} { c } { P = \frac { P \times T \times 10 } { 100 } = \frac { P \times T } { 10 } } \\\\ { P = P \times \frac { T } { 10 } } \\\\ { T = 10 \text { years } } \end{array}$

Hence, in 10 years, the amount will be doubled at 10%