In how many years the amount of money will be double the principle at simple interest of 12% p.a

Asked by elainexavier103 | 24th Aug, 2019, 03:47: PM

Expert Answer:

Amount space equals space straight I space plus space straight P
Amount space equals space 2 straight P
straight I space equals space straight P
hence comma
straight P equals Pnr over 100
1 equals fraction numerator straight n cross times 12 over denominator 100 end fraction
straight n equals 8.33 space years

Answered by Arun | 25th Aug, 2019, 01:51: PM

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