Question

In what time will a sum of money double itself at 10% compound interest payable half yearly

a. 7yrs b. 7.1 yrs c. 7.2yrs d. 7.3yrs

Answer 1

Step-by-step explanation:

Give total of cash a chance to be 100 sum = 2 × 100 = 200 straightforward premium = 200 - 100 = 100 time = si × 100/important × rate 100 × 100/100 × 10. In 10 years, a total of cash duplicates itself at 10% for every annum basic premium.