In a bank ,Interest rate is $5$ % per year.In how many years Rs $1000$ becomes double itself ?

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Solution

$A = P (1 + \frac{R T}{100}) \Rightarrow 2000 = 1000 (1 + \frac{5 T}{100}) \Rightarrow 2 = \frac{100 + 5 T}{100} \Rightarrow 200 - 100 = 5 T$
$\Rightarrow T = 20$ years.

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In a bank ,Interest rate is 5% per year.In how many years Rs1000 becomes double itself ?

A=P(1+RT100)⇒2000=1000(1+5T100)⇒2=100+5T100⇒200−100=5T⇒T=20 years.

In a bank ,Interest rate is $5$ % per year.In how many years Rs $1000$ becomes double itself ?

$A = P (1 + \frac{R T}{100}) \Rightarrow 2000 = 1000 (1 + \frac{5 T}{100}) \Rightarrow 2 = \frac{100 + 5 T}{100} \Rightarrow 200 - 100 = 5 T$
$\Rightarrow T = 20$ years.