Question

in what time will a sum of money double itself At 8percent p.a.​

Answer 1

Step-by-step explanation:

Step-by-step explanation:

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.

Answer 2

Answer:

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Step-by-step explanation:

Let the principal (P) = ₹100

∴ Amount (A) = ₹100 × 2 = ₹200

∴ S.I. = A – P = ₹200 – ₹100

= ₹100

Rate (R) = 8% p.a.

∴ Time = (S.I. × 100)/(P × R) = (100 × 100)/(100 × 8)

= 25/2 = 12.1/2 Years

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