Question

In how many years will Rs. $150$ double itself at $4$% simple interest?

Answer 1

According to the question

Amount $=150\times 2=Rs.300$

$r=4\%$ and $P=Rs.150$

Simple interest $=A-P$

$=300-150$

$=Rs.150$

Simple interest $=\frac{PRT}{100}$

$150=\frac{150\times T\times 4}{100}$

$T=\frac{150\times 100}{150\times 4}$

$T=25years$