Question

the time period for a sum of money to double itself at 12% p.a. SI per annum is

Answer 1

In 8 Years and 4 months (8.33 years)

Simple Interest = (principal * rate * time / 100) = (p*r*t/100)

let principal = p

inerest paid in x years = p { hence amount doubles}

S.I = p =( p*r*t/100)

t = 100/r = 100/12 = 8.33 = 8 years and 4 months