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In how many years a certain sum doubles itself at 4% per annum simple interest ?
- a)5 yrs
- b)10 yrs
- c)20 yrs
- d)25 yrs
Correct answer is option 'D'. Can you explain this answer?
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In how many years a certain sum doubles itself at 4% per annum simple ...
P = 100, S.I = 100, R = 4%, t = ??
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In how many years a certain sum doubles itself at 4% per annum simple ...
Solution:
Given, Simple Interest = 4%
Let the principal be P.
After n years, the amount becomes P + P*4*n/100 = 2P
Simplifying, we get n = 25 years.
Therefore, the correct answer is option (d) 25 years.
Explanation:
To double the amount, the interest earned should be equal to the principal amount. In other words, the amount should increase by 100% or become twice the principal amount.
Using the formula for Simple Interest, we can find out the amount after n years:
Amount = P + P*r*n/100, where r is the rate of interest.
We can substitute the given values in the formula to get:
2P = P + P*4*n/100
Simplifying the equation, we get:
P*4*n/100 = P
4n = 100
n = 25
Therefore, the amount will double itself in 25 years at a rate of 4% per annum simple interest.
Given, Simple Interest = 4%
Let the principal be P.
After n years, the amount becomes P + P*4*n/100 = 2P
Simplifying, we get n = 25 years.
Therefore, the correct answer is option (d) 25 years.
Explanation:
To double the amount, the interest earned should be equal to the principal amount. In other words, the amount should increase by 100% or become twice the principal amount.
Using the formula for Simple Interest, we can find out the amount after n years:
Amount = P + P*r*n/100, where r is the rate of interest.
We can substitute the given values in the formula to get:
2P = P + P*4*n/100
Simplifying the equation, we get:
P*4*n/100 = P
4n = 100
n = 25
Therefore, the amount will double itself in 25 years at a rate of 4% per annum simple interest.
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