7. Find the time after which the simple interest on a sum of money will be double of the sum, at the rate of 10% per annum.

Question

7. Find the time after which the simple interest on a sum of money will be double of the sum, at the rate
of 10% per annum.

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Charlie 1 month 2021-08-13T08:50:49+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-08-13T08:51:51+00:00

    Step-by-step explanation:

    With simple interest, you want to know how many years it will take to double your investment. See the formula for simple interest is

    Interest=principal∗rate/100∗timeInterest=principal∗rate/100∗time

    So here

    Principal is 1000

    Interest is 1000, as you want to double the investment.

    Rate is 10%, so formula become this

    =>1000=1000∗10/100∗T=>1000=1000∗10/100∗T

    =>T=(1000∗100)/(1000∗10)=>T=(1000∗100)/(1000∗10)

    =>T=10years

    0
    2021-08-13T08:52:40+00:00

    Answer:

    Let P=Rs. x

    A=Rs. 2x

    ∴S1=Rs x

    S1=

    100

    PTR

    or, x=

    100

    x×T×12

    or, T=

    3

    25

    year

    =

    8 year4 months

    please follow

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