Question

In how many years will the money depositedvin bank doubled itself if the rate of interest 12.5% per annum

Answer 1

Answer: 8 years

Step-by-step explanation: since it is asking that the sum should be double means if we consider 100 as principal amount then it must get 200.

so we can say that it is possible only if the SIMPLE INTEREST becomes 100 so that the amount becomes 100+100 = 200 so the SIMPLE INTEREST to become 100 at the rate of 12.5 % it becomes 100 in 12.5*8 i.e. 8 years.