in how many year will a sum of money is double at 5% per annum simple intrest - Maths -

Question

in how many year will a sum of money is double at 5% per annum
simple intrest

Soniya Verma · Accepted Answer

Here is the answer for your question:

Where P = Principal , R = Rate of Interest, T= Time Amount = P + SI Thus, to double the amount simple interest should be equal to the Principal Amount = P + P [ SI = P] Therefore,

T = 100/5 [Given, R = 5 %] = 20 years Time required to double the amount is 20 years