Question

In what time will a sum of money double itself at 8% p.a.
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Answer 1

Answer:

let the principal is Rs x

as the sum of money double itself so interest is also Rs x

ket the time is t years

we know ,

interest =principal ×rate of interest ×time/100

=> x= x.8.t/100

=> 8t=100

=> t=100/8=25/2=12.5

time =12.5 years