Question

in how many years will a sum of money double itself at 8.5 % per annum simple interest ?​

Answer 1

Step-by-step explanation:

let the sum of money be X

amount is equal to 2x

then simple interest= amount-principle

then 2x-x=X

now

S.I. = X

Rate = 8.5%

Principal = X

then

Time = ????

• S.I. = P×R×T/100
• X = x× 8.5×t /100
• t = 1000/85
• t= 11.76 years