What time will a sum of money at 12% per annum simple interest double itself?

Solution:

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In how many years will a sum of money double itself at 10% per annum simple interest?
Answer (Detailed Solution Below)
In what time will a sum of money double itself at 12.5% per annum simple interest?
At what time will a sum of money put at 12% simple interest triples itself?
At what percent per annum simple interest will double itself in 12 years?
In what time will a sum of money double itself at 10% per annum simple interest being charged?

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

Simple interest

Aptitude

In how many years will a sum of money double itself at 12% per annum?

1. 6 years 9 months
2. 8 years 4 months
3. 7 years 6 months
4. 8 years 6 months

Correct Option: B

Let principal = P.
Then, S.I = P,
Rate (R) = 12%
Time = (100 x SI) / (R x P) = (100 x P) / (P x 12) years
= 25/3 years
= 8 years 4 months

In how many years will a sum of money double itself at 10% per annum simple interest?

4 years
8 years
10 years
6 years

Answer (Detailed Solution Below)

Option 3 : 10 years

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Ancient and Medieval History

10 Questions 10 Marks 12 Mins

Given:

the sum of money doubles itself.

Rate = 10%

Concept used:

S.I. = PRT/100

Amount = P + SI

Calculation:

Amount = 2P = P + P

Let the Principal be 100, then Simple Interest = 100

⇒ 100 = (100 × 10 × T)/100

⇒ T = 10 years

∴ Time taken is 10 years.

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In what time will a sum of money double itself at 12.5% per annum simple interest?

∴ The principal doubles itself at 12.5% rate of interest in 8 years.

At what time will a sum of money put at 12% simple interest triples itself?

Solution : Let T years be the required time period. Given that, Amount `(A)=3 xx ` Principal (P) `therefore P(1+(TR)/(100))=3P` `implies 1+(12T)/(100)=3 implies T=(200)/(12)=16(2)/(3)` years Hence, required time period`=16(2)/(3)` years.

At what percent per annum simple interest will double itself in 12 years?

Let the principal be x. Then, the amount after 12 years be 2x. Let the rate of interest be R. ∴ The rate of interest is 25/3%.

In what time will a sum of money double itself at 10% per annum simple interest being charged?

Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double. Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.