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  • Find the time in which a certain sum in money double itself at 12% p.a rate of interest?

Find the time in which a certain sum in money double itself at 12% p.a rate of interest?

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best_answer

The given

               $$R = 10%

The sum becomes double which means 

                                               $$SI = P 

Now                       $$SI =fracPRT100

                  $$P =fracPR imes 12100$$\ $$ T = frac10012 $$\ $$ T = 12.33 years

Hence, Times 

$$ = 12 years 4 months

therefore  Times = $$ 12 years $$ 4 months 

Posted by

Deependra Verma

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