in how many years will a sum of money double itself at the rate of 5 percent per annum
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Suppose, sum be x so amount be 2x
Now, Amount= P(1+RT/100)
or,2x=x(1+ 5×T/100)
or, 2=(1+ T/20)
or,1=T/20
or, T=20 years.
Now, Amount= P(1+RT/100)
or,2x=x(1+ 5×T/100)
or, 2=(1+ T/20)
or,1=T/20
or, T=20 years.
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