Question

In how many years will a sum of money double itself at 10%. Interest per annum.
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Answer 1

Let sum of money be P=100
Interest per annum =10%
amount = 2× 100 = 200
simple interest = 200 - 100 = 100
Since, SI=$\frac{PTR}{100}$
$\Rightarrow T=\frac{100\times SI}{PR}$
$=\frac{100\times 100}{100\times 10}$
$\therefore t=10$ years.