Question

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

Answer 1

This is ur ans hope it will help you in case of any doubt comment below

Answer 2

Let,

• Principal = Rs P

Therefore,

• Amount = Rs 2 P

Therefore:-

• Simple Interest = Amount - Principal = Rs P

Rate of Interest = 15% p.a.

=> Time = 100 × S.I./ P × 15

=> Time = 100 × P/ P × 15

=> Time = 20/3 years

=> Time = 6 years 8 months

Hence:-

• The time is 6 years 8 months

More Information:-

Principal (P) :- The money which we deposit in or borrow from a bank or money lender is called the principal.

Rate of Interest (R) :- The Interest on Rs 100 for one year is known as rate of interest per year or rate of interest per annum.

Time (T) :- The period of time for which the principle is kept in a bank is called time