In what time will sum it money double itself at 8%p.a?
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Answered by
28
12.5 years ( assuming simple interest)
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Answered by
24
Dear friend,
Let sum of money be P
Rate of interest = 8% p.a.
Amount = 2×P = 2P
SI = A-P = 2P - P = P
Time = ?
ATP,
Time = SI×100 / Rate×Sum of money
= P × 100 / 8 × P
= 25/2
= 12.5
Answer: Time is 12 years 6 months.
Hope it helps !!!
AritraK:
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