How many years will a sum of money double itself at 6 1 4 )% simple interest per annum?
Hence, the time required to double the sum of money at 6 1/4% simple interest per annum is 16 years.
T=16years.
R = 100 × I P × T = 100 × 100 100 × 25 10 % = 100 × 100 100 × 4 25 = 16 % At what rate percent per year will a sum double itself in = 6 1 4 years?
Let further assume that in n years, a sum of Rs P amounts to Rs 2P at the rate of 6.25 % per annum. Time period = n years. Hence, in 16 years, a sum of money double itself at the rate of 6.25 % per annum simple interest.
I. Sum×Rate=(100×xx×4)years = 25 years.
T= 20 Yrs. Q. If Rs. 600 are invested at 5% simple interest per annum, in how much time it will double itself?
⇒R=100x6x=16.6%
You simply take 72 and divide it by the interest rate number. So, if the interest rate is 6%, you would divide 72 by 6 to get 12. This means that the investment will take about 12 years to double with a 6% fixed annual interest rate.
If, for example, your account earns 4 percent, divide 72 by 4 to get the number of years it will take for your money to double. In this case, 18 years.
The correct Answer is:1623%
How many years will a sum of money double itself at 12.5% interest?
Time = 8 years. In how much time, will a sum of money double itself at 12.5% per annum rate of interest.
But the sum of money doubles itself in 7 years! Hence, if we have 2x after 7 years, we'll get its double after the same amount of time (4x at t = 14).
The time required for a sum of money to double at 5% annum compounded continuously is (in years) 13.9.
Hence, the time required to double the sum of money at 6 1/4% simple interest per annum is 16 years.
So time required is 10 years. Was this answer helpful?
| Annual Rate of Return | Years to Double |
|---|---|
| 7% | 10.3 |
| 8% | 9 |
| 9% | 8 |
| 10% | 7.2 |
If your interest rate is 6%, then 72/6 = 12 years.
⇒T=1008=12.5 years. Was this answer helpful?
Hence, the answer is 25 years. Was this answer helpful? In how many years will Rs. 150 double itself at 4% simple interest?
So, if the interest rate is 6%, you would divide 72 by 6 to get 12. This means that the investment will take about 12 years to double with a 6% fixed annual interest rate.
When a sum becomes double in 6 years?
A sum of money doubles itself in 6- years. So it will become 4- times in (2 x 6)= 12— years. It will become 8- times in = (3 x 6)= 18- years. And it will become 16- times in =(4 x 6) = 24- years.
Assuming this sum of money at 15% per annum takes interest compounded annually. It will take slightly less than 5 years for it to double itself.
We know that 6 + 6 = 12 . So, 12 is a double of 6.
Here's how the Rule of 72 works. You take the number 72 and divide it by the investment's projected annual return. The result is the number of years, approximately, it'll take for your money to double.
How the Rule of 72 Works. For example, the Rule of 72 states that $1 invested at an annual fixed interest rate of 10% would take 7.2 years ((72/10) = 7.2) to grow to $2. In reality, a 10% investment will take 7.3 years to double (1.107.3 = 2).
