Question

In what time will a sum of money double itself at 15% per annum

Answer 1

Heya friend
Here is your answer !!

____________

Let the principal be x .
Amount = 2x
There fore ,
Simple Interest = x .
Rate = 15 % p.a.
Time = ? .

Now , we know that ,
T = ( 100 * SI ) / ( R * P )
=> T = ( 100 * x ) / ( 15 * x )
=> T = 100 / 15
=> T = 20 / 3
=> T = 6 yrs and 8 months . [ Answer ] .

____________

Hope it helps !!