in what time sum of money will double itself at 5%per annum. solve using compound interest.
Answers
Answered by
1
Step-by-step explanation:
Let the sum of money = Rs x
Therefore amount = Rs 2x
Interest = sum*time*rate of interest/100
= x*time*5/100
Interest = 5x*time/100
Amount = sum + interest
2x=x+5x*time/100
2x=100x+5x*time/100
200x=100x+5x*time
5x*time=100x
time=100x/5x
=20
Answered by
10
Answer:
Let the sum of money = Rs x
Therefore amount = Rs 2x
Interest = sum*time*rate of interest/100
= x*time*5/100
Interest = 5x*time/100
Amount = sum + interest
2x=x+5x*time/100
2x=100x+5x*time/100
200x=100x+5x*time
5x*time=100x
time=100x/5x
=20
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