1.

Find the period after which Rs. 5000 would be double at 8 p.c.pa

Answer»

The time required to double the amount is 12.5 years.

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Step-by-step EXPLANATION:

Given, Principal = P = Rs. 5000

Rate of interest = R = 8%

Amount = A = 2 x 5000 = Rs. 10000 (As amount will be doubled)

Time = T in years

Simple interest = S.I

A = P + S.I = P + \frac{PRT}{100}

=> 10000 = 5000 + \frac{5000 \times 8 \times T}{100}

=> 10000 = 5000 + 400T

=> 400T = 10000 - 5000 = 5000

=> T = \frac{5000}{400} = 12.5 years

Hence, the time required to double the amount is 12.5 years.


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