In how many years will a sum of money double itself at 20% simple interest?
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Let the number of years to double be x years
Rate =20% per annum.
Amount according to the question is double of the principal
So let the principal be Rs a
and the Amount be Rs 2a
Therefore Interest = Amount- Principal
= Rs 2a- a = Rs a
Therefore by the formula of simple interest
S.I = P X R X T / 100
WE GET
a =( a X x X 20)/100
Or x = 5a/ a
Or x= 5 years
Therefore Time = 5 years
Ans. 5 years
I HOPE THIS HELPS
◀SIMPLE INTEREST ▶
@sid000 #!!
Rate =20% per annum.
Amount according to the question is double of the principal
So let the principal be Rs a
and the Amount be Rs 2a
Therefore Interest = Amount- Principal
= Rs 2a- a = Rs a
Therefore by the formula of simple interest
S.I = P X R X T / 100
WE GET
a =( a X x X 20)/100
Or x = 5a/ a
Or x= 5 years
Therefore Time = 5 years
Ans. 5 years
I HOPE THIS HELPS
◀SIMPLE INTEREST ▶
@sid000 #!!
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