Question

In how much time will a sum become double at 12% p.a. simple interest? ​

Answer 1

Answer:

8 years 3 months 4 weeks/ 8 years 4 months (approx.)

Step-by-step explanation:

12 × 8.333 = 100

For a sum to double, it has to increase by 100%

So each year 12% interest will add up until 8.3 years or approximately 8 years 4 months

So time for sum to become double with 12% interest = 8.333 years