Question

In what time will a sum of money doubles itself at simple interest 20%pa

Answer 1

Let ,

Principal(p) be P

Time=T

Rate=20% p.a.

Amount=2P

S.I.=$\frac{PRT}{100}$

2P=$\frac{PXTX20}{100}$

$\frac{2PX5}{P}$=T

10=T

∴To double the principal it will take 10 years.