Question

in how much time will a sum of money double itself at 12% per annum simple intrest

Answer 1

here's your answer.

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Answer 2

Principal (P)= x

Amount (A)=2x

Interest (I) = A- P

= 2x - x

=x

Rate (R )=12%

Time(T)=?

We know that ,

T= I × 100÷PR

= x × 100÷ x×12

= 100x÷12x

= 8.3 years