Let Principal (P)=Rs.
100
then
Amount(A)=Rs.
200
Period(t)=3 years.
Let
R be the rate %.
Since, we have
A=P(1+R100)3
Substitute given values, we get
⇒200=100(1+R100)3
⇒200100=(1+R100)3
⇒3√2=(1+R100)
⇒1.2599=1+R100
⇒R100=1.2599−1
⇒R=0.2599×100
∴R=25.99% per annum.
At what interest rate compounded quarterly will an investment double in 5 years?
Calculator Use
For example if you wanted to double an investment in 5 years, divide 72 by 5 to learn that you'll need to earn 14.4% interest annually on your investment for 5 years: 14.4 × 5 = 72. The Rule of 72 is a simplified version of the more involved compound interest calculation.
At what rate of interest compounded quarterly will an investment double in 4 years?
The rule also means if you want your money to double in 4 years, you need to find an investment that earns 18% per year compounded annually.
At what rate of interest will the sum double itself in 5 years?
Detailed Solution
If a sum doubles itself in 5 years by simple interest. Calculations: Let P be the principal amount and R be the rate of interest. ∴ The rate of simple interest p.a. is 20%.
At what interest rate quarterly will an investment double itself after 8 years?
According to Simple Interest (S.I) formula. . Where P is principal amount, R is rate of interest and T will be time period. Hence, the rate of interest to double a money in 8 years will be 12.5% per annum.