In how many years would an amount $380 become $570 under a simple interest rate of 5 per annum


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In how many years would an amount $380 become $570 under a simple interest rate of 5 per annum

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Solution : Principal amount be P.<br> Amount= principal amount+simple interest<br> 3P=P +simple interest<br> =>simple interest=2P<br> =>`2P=(P xx R xx T)/100` given R=25%<br> =>`2 xx 4=8 yrs=T`

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In how many years would an amount $380 become $570 under a simple interest rate of 5 per annum

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Solution

Let sum of money be P=100Interest per annum =10% amount = 2× 100 = 200 simple interest = 200 - 100 = 100Since, SI=PTR100⇒T=100×SIPR=100×100100×10∴t=10 years.

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How many years will a sum of money double itself at the rate of 5% per annum?

So time required is 10 years.

At what time would a sum double itself at the rate of 5% simple interest *?

So, the time required is 20 years. Q. At what rate of interest per annum will a sum double itself in 8 years? Q.

How many years will a sum of money becomes double at 10% per annum simple interest?

Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.

How do you calculate interest in 5 years?

r = R/100 = 3.875%/100 = 0.03875 per year. The total amount accrued, principal plus interest, from simple interest on a principal of $10,000.00 at a rate of 3.875% per year for 5 years is $11,937.50.