A sum amounts to rs 1326in 6 years at 5% per annum simple interest. What time will this sum double itself as the same rate of interest

Asked by Palreena738 | 10th Sep, 2018, 07:58: PM

Expert Answer:

Amount =Rs. 1326
Time = 6 years
Rate of Interest = 5%
According to the condition,
If the amount is doubled means
Amount = 1326 × 2 =Rs. 2652
Simple Interest = 2652 - 1326 = 1326
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Simple space Interest space equals space fraction numerator straight P space cross times space straight N space cross times space straight T over denominator 100 end fraction space
rightwards double arrow 1326 space equals space space fraction numerator 1326 space cross times space 5 space cross times space straight T over denominator 100 end fraction
rightwards double arrow straight T space equals space 20.03 space equals space 20 space years end style

Answered by Yasmeen Khan | 12th Sep, 2018, 04:35: PM

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