6.In how many years will a sum of money double itself at 12% simple in – InterviewSolution

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6.In how many years will a sum of money double itself at 12% simple interest?

Answer»

SI = P*R*T/100Let principal amount = PThen SI is also equal to PT =?, R = 12%

According to the given conditionP = P*12*T/100T = 100/12 = 25/3 = 8 1/3

Number of years sum of money double itself = 8 Yrs 4 months

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