In what time will a sum of money double itself at the rate of 20 per annum simple interest

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In how many years will a sum of money double itself with the rate of 10% per annum simple interest?
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.
In what time will a sum of money double itself at 10% per annum?
How many years would it take your money to double at 10% interest compounded yearly?
For what time in years a sum of money will become 4 times itself at 10% pa?
In what time will a sum of money double itself at 5% compound interest payable half yearly?
Compound Interest Curve
Practice using the Rule of 72
Why Stop at a Double?
Why Does the Rule of 72 Work?
In how many years will a sum of money double itself with the rate of 10% per annum simple interest?
In what time will a sum of money Triple itself at 10% per annum?
How long will it take a sum to triple itself at the rate of 10% compounded semi annually?
At what time does a sum of money triples itself at the rate of 20%?
What rate of interest compounded annually is required to triple an investment in 10 years?
In what time will a sum of money double itself at 10% per annum compound interest payable half yearly?
At what time at simple interest will a sum of money trebles itself at 10%?
In what time will a sum of money double itself at the rate of 20%?
How many years will a sum of money double itself at the rate of 5% per annum?
In what time will a sum of money double itself at the rate of 20%?
At what rate per annum will sum of money double in 20 years?
At what simple interest rate per annum a sum of money will be doubled on itself in 25 years?
In what time a sum will double itself at the simple rate of interest?

In how many years will a sum of money double itself with the rate of 10% per annum simple interest?
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.
In what time will a sum of money double itself at 10% per annum?
How many years would it take your money to double at 10% interest compounded yearly?
For what time in years a sum of money will become 4 times itself at 10% pa?
In what time will a sum of money double itself at 5% compound interest payable half yearly?

In how many years will a sum of money double itself with the rate of 10% per annum simple interest?

Answer

Verified

Hint: To solve the problem, we should know the definition of annual simple interest. We have,
Simple Interest (I) = $\dfrac{P\times R\times t}{100}$
Where, P= principal amount
R = simple interest annual rate
t = time period of the annual simple interest
Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double.

Complete step-by-step answer:
In this question, we are left with two unknowns, P and t. However, we also have an additional condition. This condition tells that within the required time (which we have to calculate), the sum of money doubles itself. Thus, if originally, we had principal amount as P, finally, this amount would become 2P. Thus, simple interest (I) becomes 2P-P = P. Since, simple interest is basically the amount accumulated over the total principal amount. Further, for simplification, we can write,
$\dfrac{R}{100}=\dfrac{10}{100}=0.1$
Thus, we have,
I=$\dfrac{P\times R\times t}{100}$
Since, I = P (as calculated above), we have,
P = $\dfrac{P\times R\times t}{100}$
We can cancel P from both sides. Thus, we have,
1=$\dfrac{R\times t}{100}$
Plugging in the known values, we have,
1= 0.1$\times $t
Since, $\dfrac{R}{100}$=0.1
Now,
t=10 years
Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.

Note: While solving questions related to principal interest, it is important to keep in mind that simple interest calculated from the formula, Simple Interest (I) = $\dfrac{P\times R\times t}{100}$ , doesn’t represent the total amount of money. In fact, the total amount is the sum of Principal amount (P) and simple interest. Thus, in this case, when money was doubled, the total amount was 2P and simple interest was P.

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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.

In what time will a sum of money double itself at 10% per annum?

Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double. Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.

How many years would it take your money to double at 10% interest compounded yearly?

The calculated value of the number of years required for invested amount to become double in amount is 7.27 years.

For what time in years a sum of money will become 4 times itself at 10% pa?

=(x×4100×x)years = 25 years.

In what time will a sum of money double itself at 5% compound interest payable half yearly?

Therefore, the number of years it will take to double the money at 5% per annum when compounded annually is 12.5 years.

Let the sum of money be x

Nội dung chính

Compound Interest Curve
Practice using the Rule of 72
Why Stop at a Double?
Why Does the Rule of 72 Work?
In how many years will a sum of money double itself with the rate of 10% per annum simple interest?
In what time will a sum of money Triple itself at 10% per annum?
How long will it take a sum to triple itself at the rate of 10% compounded semi annually?
At what time does a sum of money triples itself at the rate of 20%?
What rate of interest compounded annually is required to triple an investment in 10 years?
In what time will a sum of money double itself at 10% per annum compound interest payable half yearly?
At what time at simple interest will a sum of money trebles itself at 10%?
In what time will a sum of money double itself at the rate of 20%?
How many years will a sum of money double itself at the rate of 5% per annum?

Nội dung chính

Compound Interest Curve
Practice using the Rule of 72
Why Stop at a Double?
Why Does the Rule of 72 Work?
In how many years will a sum of money double itself with the rate of 10% per annum simple interest?
In what time will a sum of money Triple itself at 10% per annum?
How long will it take a sum to triple itself at the rate of 10% compounded semi annually?
At what time does a sum of money triples itself at the rate of 20%?
What rate of interest compounded annually is required to triple an investment in 10 years?

Amount = 3 × Rs x

= Rs 3x

Interest = Amount – Principal

= Rs 3x – Rs x

= Rs 2x

Rate =13 \frac{1}{3} \% \text { p.a. }

= 40 / 3 % p.a.

Time (T) = (I × 100) / (P × R)

= (2x × 100) / x × (40 / 3) years

On further calculation, we get,

= (2 × 100 × 3) / 40 years

= (100 × 3) / 20 years

We get,

= 5 × 3 years

= 15 years

Have you always wanted to be able to do compound interest problems in your head? Perhaps not... but it's a very useful skill to have because it gives you a lightning fast benchmark to determine how good (or not so good) a potential investment is likely to be.

The rule says that to find the number of years required to double your money at a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.

Y = 72 / r and r = 72 / Y
where Y and r are the years and interest rate, respectively.

Compound Interest Curve

Suppose you invest $100 at a compound interest rate of 10%. The rule of 72 tells you that your money will double every seven years, approximately:

Years	Balance
Now	$100
7	$200	(doubles every
14	$400	seven years)
21	$800

If you graph these points, you start to see the familiar compound interest curve:

Practice using the Rule of 72

It's good to practice with the rule of 72 to get an intuitive feeling for the way compound interest works. So...

Why Stop at a Double?

There's nothing sacred about doubling your money. You can also get a simple estimate for other growth factors, as this calculator shows:

Why Does the Rule of 72 Work?

If you want to know more, see this explanation of why the rule of 72 works. (Brace yourself, because it's slightly geeked out.)

In how many years will a sum of money double itself with the rate of 10% per annum simple interest?

Answer

Verified

In what time will a sum of money Triple itself at 10% per annum?

⇒T=x×152x×100=340=13. 3 years.

How long will it take a sum to triple itself at the rate of 10% compounded semi annually?

The answer to the question is 14.3 years.

At what time does a sum of money triples itself at the rate of 20%?

Detailed Solution Let the sum of money be Rs. P. ∴ The required time is 10 years.

What rate of interest compounded annually is required to triple an investment in 10 years?

Thus, the interest rate should be 24.57%.

In what time will a sum of money double itself at 10% per annum compound interest payable half yearly?

∴ Time taken is 10 years. The Central Selection Board of Constables (CSBC) will conduct the PET exam for Bihar Police Fireman on 8th November 2022.

At what time at simple interest will a sum of money trebles itself at 10%?

∴t=10 years. Q. A certain sum of money lent out at a certain rate of interest per annum, doubles itself in 10 years. In how many years will it treble itself?