In how many years will a sum of money double itself at 10 %.Interest per annum. (2024)

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Simple Interest

In how many y...

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Solution

Let sum of money be P=100
Interest per annum =10%
amount = 2× 100 = 200
simple interest = 200 - 100 = 100
Since, SI=PTR100
⇒T=100×SIPR
=100×100100×10
∴t=10 years.


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