Question

in how many years will a sum of money double itself in 12% per annum?​

Answer 1

Answer:

Let principal be x

So Amount = 2x

Let time be t years

As given

Rate = 12%

Then

SI = PRT/100

x= x × 12 × t /100

x= 3tx/25

By cross multiplication

25x=3tx

25x/3x=t

So t=25/3 years

Therefore the sum of money double itself in 25/3 years at 12% per annum.

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