Question

Q10.
What time is required for a sum of money to double itself
if simple rate of interest is 10% per annuam
(i) 12 years
(ii) 14 years
(iii) 10 years
(iv) 16 years​

Answer 1

Answer:

(iii) ten years

Explanation:

let p = 100

then A = 2P = 2*100

= 200

Then,

I = A - P

I = 200 - 100 = 100

Now,

S.I. = P*R*T

100

100 = 100*10*T

100

100 = 10T

T = 10years