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At the rate of 10% at what time Rs. 500 becomes double?1. 10 years2. 11 years3. 8 years4. 9 years |
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Answer» Correct Answer - Option 1 : 10 years Given: Rate = 10% Principal = Rs. 500 SI = Rs. 500 (∵ principal become doubled) Formula used: SI = (P × R × T)/100 Calculation: According to the question ⇒ SI = (P × R × T)/100 ⇒ 500 = (500 × 10 × T)/100 ⇒ 500 = 50T ⇒ 10 years = T ∴ Required time is 10 years |
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