In what time does a sum of money amount to twice of itself at the simple interest of 25% per annum? |
10 years 4 years 8 years 2 years |
4 years |
A sum of money amount to twice of itself at the simple interest of 25% per annum. Let principal = P & Amount = 2P Amount = Principal + Interest 2P = P + interest Interest = 2P - P = P We know , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) P = \(\frac{P × 25 × Time }{100}\) Time = 4 years |