1.

At the rate of 10% at what time Rs. 500 becomes double?1. 10 years2. 11 years3. 8 years4. 9 years

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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