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


Siddu.B.Kanaj 9th Nov, 2024
Answer (1)
Samprikta Mondal 9th Nov, 2024

Let's assume the principal amount be P.


Amount A after n years:

A = P + P * 0.1 * n


We desire to double the amount, so

A =2P.


And so: 2P=P+P*0.1n


We can make it even simpler thus:

P=P*0.1n

Dividing both sides by P:

1=0.1n

Solve for n:

n=1/0.1 =10


Hence, it will take 10 years for the amount to double at a 10% per annum simple interest.

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