Question

In what time will a sum of money double itself at 30% per annum ?​

Answer 1

Answer:

Method #2: This is a second method which a beginner can use to predict if a stock will go up or down. This is a crude way to guessing a stock price.

Answer 2

Answer:

Let the principal be x

So, Amount = Double of principal = 2x

Rate of interest = 8%

Formula : A=P(1+r)^tA=P(1+r)

t

2x=x(1+0.08)^t2x=x(1+0.08)

t

2=(1+0.08)^t2=(1+0.08)

t

t=9.006t=9.006

t\sim 10t∼10

So, a sum of money double itself at 8% p.a in 10 years.