In how much time will a sum of money double itself at 12% per annum simple interest.
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Answer:
8years 4months
Step-by-step explanation:
Let P=Rs. x
Let P=Rs. xA=Rs. 2x
Let P=Rs. xA=Rs. 2x∴S1=Rs x
Let P=Rs. xA=Rs. 2x∴S1=Rs xS1=100PTR
Let P=Rs. xA=Rs. 2x∴S1=Rs xS1=100PTRor, x=100x×T×12
Let P=Rs. xA=Rs. 2x∴S1=Rs xS1=100PTRor, x=100x×T×12or, T=325 year
=8 year4 months
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