Question

In how much time will a certain sum of money double when deposited at 20% p.a. simple interest?

Answer 1

Answer:

In 5 yrs. a certain sum of money  is doubled.

Step-by-step explanation:

Given: Rate of interest (R)=20%

A certain sum of money is doubled.

Let Principal (P) =Rs.X

So, Amount (A)=2X

Simple Interest (S.I)=Amount-Principal

                                =2X - X

                                 =X

Time =(S.I ×100)/(P×R)

        =(X × 100)/( X × 20)

        =100/20        (as X from numerator and denominator cancelled out)

        =5