Question

in how many years will the money deposited in a bank double itself the rate of interest is 12 1 by 2% per annum​

Answer 1

$\mathfrak{Answer:}$

= 8 years .

$\mathfrak{Step-by-Step\;Explanation:}$

$\underline{\bold{Given\;in\;the\;Question:}}$

• A sum becomes 2 times.
• Rate = 12 1/2% p.a.

$\mathbb{SOLUTION:}$

Let the principle be Rs. x.

So amount = Rs. 2x.

$\bigstar\quad\textsf{We know that : \boxed{\bold{Simple\;Interest=Amount-Principle.}}}\\\\\\\tt{=2x-x}\\\\\\\tt{=Rs.x.}$

$\bold{Also:}\\\\\\\boxed{\bold{SI=\dfrac{Principle\times Time\times Rate}{100}}}\\\\\\\mathfrak{According\;to\;Question:}\\\\\\\implies\tt{x=\dfrac{x\times t\times \frac{25}{2}}{100}}\\\\\\\implies\tt{100x=\dfrac{25}{2}xt}\\\\\\\implies\tt{t=\dfrac{100x\times 2}{25x}}\\\\\\\implies\tt{t=4\times 2=8\;years.}\\\\\\\\\boxed{\boxed{\bold{Time=8\;years}}}$

Answer 2

Step-by-step explanation:

in how many years will the money deposited in a bank double itself the rate of interest is 12 1 by 2% per annum.

The answer is 8 years.

p = principle

A=amount

C.I. equals to compound interest

t equals to time