CBSE Class 7 Answered
In how much time will a sum of money double itself if invested at 8% simple interest per annum?
Asked by Trisha Gupta | 13 Mar, 2020, 11:02: AM
Expert Answer
Let the sum invested be Rs. x.
Amount will be A = 2x
Simple interest = 2x - x = x
SI = PNR/100
x = x × N × 8/100
N = 12.5 years
In 12.5 years time will a sum of money double itself if invested at 8% simple interest per annum.
Answered by Sneha shidid | 13 Mar, 2020, 11:12: AM
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