Question

in how many years will a sum of money double itself in 12 percent per annum

Answer 1

The money doubles itself within 8 years and 4 months when the rate of interest was 12 %

Step-by-step explanation:

In the above question, rate of interest, i.e., R= 12%

The formula for Simple Interest = (Principal x Rate x Time /100)

= (P x R x T) /100  

Assume Principal be P

The Simple interest that is paid is P since the money doubles in T years

Simple Interest = P = (P x R x T) / 100

   T = 100 / R

      = 100 / 12

      = 8.33 years, i.e., approximately 8 years and 4 months  

The money doubles itself within 8 years and 4 months

Answer 2

$\huge \bigstar \fcolorbox{purple}{aqua}{ \tt\pink {AnSwEr}} \bigstar$

According to the question-

Principal: P

Amount: 2P

Simple Interest: Amount - Principal

Simple Interset: 2P-P =P

Time:

$\frac{100 \times simple \: interst}{principal \times rate \: of \: interest}$

$= \frac{100 \times p}{p \times 12}$

$= \frac{25}{3} \: years$

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