Question

Rs 1000 will get doubled at a simple interest of 12% after.......
years​

Answer 1

Answer:

There are simple methods to count to number of years it will take to double your money using simple interest and compound interest.

For simple interest, the formula is : r=100/n , where r is the rate of interest and n is the number of years.

Examples for Simple Interest:

I want to double my principal amount in 8 years so at what simple interest rate should I invest my money?

Answer is r=100/n. Therefore r=100/8=12.5%. So if I invest in a scheme which gives me 12.5% simple interest

Step-by-step explanation:

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