Question

Let us write by calculating, the number of yrs for which an amount becomes twice of its
principal having the rate of simple interest of 6% per annum.​

Answer 1

Answer:

Compound annual growth represents growth over a period of years, with each year's growth added to the original value. Sometimes called compound interest, the compound annual growth rate (CAGR) indicates the average annual rate of growth when you reinvest the returns over a number of years. It is especially useful when your investment experiences significant fluctuations in growth from year to year, since a volatile market means an investment may see large returns one year, losses the next and then more moderate growth another year. It can be used not only to evaluate the performance of the investment, but to compare returns on different types of investments, such as stocks and bonds or stocks and a savings account. Business owners may use the CAGR to analyze the performance of a variety of business measures, including market share, expense, income and customer satisfaction levels.

Step-by-step explanation:

Answer 2

Answer:

Let x % be the simple interest per annum on Principal amount(P) you deposited.

After 1 year your money will become P + x% P.

After 2 year your money will become P + x%P + x% P.

Similarly, After 6 years your money will become P + 6 (x% P).

Now According to Question, this amount after 6 years is 2 times the amount you deposited i.e P.

Mathematically it can be expressed as,

2P = P + 6 (x% P) ……………(i)

From here, x = 100/6.