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Let the principal amount = Rs. 100 ∴ Amount(A) = 100 x 2 = Rs. 200 ∴ SI = A - P = 200 - 100 = Rs. 100 Rate (R) = 8% p.a ∴ TIme = \frac{SI\times100}{P\times R}=\frac{100\times100}{100\times8}=\frac{25}{2}=12\frac{1}{2}years Sum In what time will a sum of money double itself at 8% p.a? Advertisement Remove all ads SolutionLet the principal (P) = ₹ 100 ∴ Amount (A) = ₹ 100 × 2 = ₹ 200 ∴ S.I. = A - P = ₹ 200 - ₹ 100 = ₹ 100 Rate (R) = 8 % p.a. ∴ Time = `("S.I." xx 100)/("P" xx "R")` `= (100 xx 100)/(100 xx 8)` `= 25/2 = 12 1/2` years Concept: Concept for Application to Simple Interest (Time Period in Complete Years). Is there an error in this question or solution? Advertisement Remove all ads Chapter 10: Simple Interest - Exercise Q 4Q 3Q 5 APPEARS INSelina Concise Mathematics Class 7 ICSE Chapter 10 Simple Interest Advertisement Remove all ads Have you always wanted to be able to do compound interest problems in your head? Perhaps not... but it's a very useful skill to have because it gives you a lightning fast benchmark to determine how good (or not so good) a potential investment is likely to be. The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.
Compound Interest CurveSuppose you invest $100 at a compound interest rate of 10%. The rule of 72 tells you that your money will double every seven years, approximately:
If you graph these points, you start to see the familiar compound interest curve:  Practice using the Rule of 72It's good to practice with the rule of 72 to get an intuitive feeling for the way compound interest works. So... Why Stop at a Double?There's nothing sacred about doubling your money. You can also get a simple estimate for other growth factors, as this calculator shows: Why Does the Rule of 72 Work?If you want to know more, see this explanation of why the rule of 72 works. (Brace yourself, because it's slightly geeked out.)
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Login Register now for special offers +91 Home > English > Class 14 > Maths > Chapter > Simple & Compound Interest > In what time will a sum double... Updated On: 27-06-2022 UPLOAD PHOTO AND GET THE ANSWER NOW! Text Solution 12.5 years5 years6 years8 years Answer : A Answer Step by step solution by experts to help you in doubt clearance & scoring excellent marks in exams. 449928457 0 300 1:55 In what time will a sum of money double itself @ 20% per annum (p.a) simple interest ? 645732813 66 3.6 K 2:03 In what time will a sum double itself at 8% p.a. Simple interest. <br> किस समय में एक राशि 8% प्रति वर्ष साधारण ब्याज पर दोगुनी हो जाएगी ? 646459034 0 6.4 K 1:36 In what time a sum will double itself at 12% annual rate of simple interest? 645951164 0 2.4 K 1:32 In what time will a sum double itself at 4% per annum, at simple interest ? 41017662 0 3.5 K 1:32 In what time will a sum double itself at 4% per annum, at simple interest ? 647962996 20 2.7 K 1:17 Find the number of years in which an amount invested at 8% p.a. simple interest doubles itself. Show More Comments Add a public comment... Follow Us: Popular Chapters by Class: Class 6 AlgebraBasic Geometrical IdeasData HandlingDecimalsFractions Class 7 Algebraic ExpressionsComparing QuantitiesCongruence of TrianglesData HandlingExponents and Powers Class 8 Algebraic Expressions and IdentitiesComparing QuantitiesCubes and Cube RootsData HandlingDirect and Inverse Proportions Class 9 Areas of Parallelograms and TrianglesCirclesCoordinate GeometryHerons FormulaIntroduction to Euclids Geometry Class 10 Areas Related to CirclesArithmetic ProgressionsCirclesCoordinate GeometryIntroduction to Trigonometry Class 11 Binomial TheoremComplex Numbers and Quadratic EquationsConic SectionsIntroduction to Three Dimensional GeometryLimits and Derivatives Class 12 Application of DerivativesApplication of IntegralsContinuity and DifferentiabilityDeterminantsDifferential Equations Privacy PolicyTerms And Conditions Disclosure PolicyContact Us How many years will it take for a certain sum of money invested at an 8% rate?A sum of money invested at 8% per annum amounts to Rs. 12,122 in years. How many years will a principal at 8% pa simple interest becomes three times of the principal?∴ Time is 8 years. How long it will take money to double itself at 7% compounded annually?With an estimated annual return of 7%, you'd divide 72 by 7 to see that your investment will double every 10.29 years. How long will it take a sum of money to double itself at 5% per annum simple interest?So time required is 10 years. What rate per cent per annum simple interest sum is double of itself in 8?⇒R=100T=1008=12.5%
At what rate percent per annum simple interest will a sum treble itself in 8 years?R=12. 5%
At what interest rate quarterly Will an investment double itself after 8 years?If you want your money to double every 8 years, you will need to earn an interest rate of 9% (72 divided by 8).
At what rate percent per annum will a sum of money doubles itself?⇒R=10%
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At what rate percent per annum simple interest will a sum double itself in 8 years?
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