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11. After how many years does a sum ofRs. 500 become double at sinple interestof 20% per annum?1) 3 years 2) 4 yearsSe3) 5 years4) 6 yearsAns: 5 years16​

Answer»

Solution

Given :-

  • P = Rs 500
  • r = 20%

Find :-

  • t = ?

Explanation

Here ,

We want sum be DOUBLE that's MEAN , SIMPLE INTEREST will be same of principal .

Then, let

  • C.I. = Rs 500

Now using C.I. Formula.

\boxed{\underline{\tt{\red{\:C.I.=\:\dfrac{p\times r\times t}{100}}}}}

Keep all values

==> 500 = 500 × 20 × t/100

==> 500 × 100/( 20 × 500) = t

==> t = 100/20

==> t = 5

Hence

  • Sum of Rs 500 became double after 5 years .

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