At what rate percent per annum will sum of money double in 8 years​

Question

At what rate percent per annum will sum of money double in 8 years​

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Eloise 1 month 2021-08-20T15:54:03+00:00 2 Answers 0 views 0

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    0
    2021-08-20T15:55:33+00:00

    Let principal = P, Then, S.I.= P and Time = 8 years  

    We know that S.I. = P x T x R/100                          

    Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

    0
    2021-08-20T15:55:36+00:00

    let the principal amount be Rs. 100

     =  > 100 \times rate \times 8 = 200 \\  \\  =  > rate =  \frac{200}{800}  \\  \\  =  > rate =  \frac{1}{4}  \\  \\  =  > rate =  \frac{1}{4}  \times 100\% \\  \\  =  > rate = 25\%

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