In how many years will a sum of money double itself at 10% per annum simple interest?
- 4 years
- 8 years
- 10 years
- 6 years
Answer (Detailed Solution Below)
Option 3 : 10 years
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Given:
the sum of money doubles itself.
Rate = 10%
Concept used:
S.I. = PRT/100
Amount = P + SI
Calculation:
Amount = 2P = P + P
Let the Principal be 100, then Simple Interest = 100
⇒ 100 = (100 × 10 × T)/100
⇒ T = 10 years
∴ Time taken is 10 years.
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In what time will a sum double...
Updated On: 27-06-2022
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12.5 years5 years6 years8 years
Answer : A
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