Maths-
General
Easy

Question

At what rate percent per annum will a sum of money double itself in 10 years?

hintHint:

Use the formula of total amount and then find the rate of interest .

The correct answer is: 10 years.


    Complete step by step solution:
    Formula for total amount = A = P + SI…(i)
    where  is the total amount,  is the principal amount and  is simple interest .
    Here, A = 2P and S I equals fraction numerator P T R over denominator 100 end fraction
    where P is Principal amount, T is number of years and R is the rate of interest.
    We have, T = 10 (given) and R = ?
    On substituting the known values in (i), we have 2 P equals P plus fraction numerator P cross times 10 cross times R over denominator 100 end fraction.
    Subtract P from both sides.
    Then we have, P equals fraction numerator P cross times 10 cross times R over denominator 100 end fraction
    On further simplifications, we have R equals 10 straight percent sign
    At 10% per annum the sum amount will double itself in 10 years.

    Related Questions to study

    General
    Maths-

    Find the solution of the system of equations.
    y equals x squared plus 6 x plus 9
    y = 3x

    It is not necessary for every set of equation to have solutions. If you graph them and get not intersecting points, then they have no real solutions.

    Find the solution of the system of equations.
    y equals x squared plus 6 x plus 9
    y = 3x

    Maths-General

    It is not necessary for every set of equation to have solutions. If you graph them and get not intersecting points, then they have no real solutions.

    General
    General

    Choose the synonyms of 'research'

    Choose the synonyms of 'research'

    GeneralGeneral
    General
    Maths-

    What sum will yield an interest of Rs. 277.50 for 3 years at 12% per annum?

    What sum will yield an interest of Rs. 277.50 for 3 years at 12% per annum?

    Maths-General
    parallel
    General
    General

    Which of the following is an example of parallel structure?

    Which of the following is an example of parallel structure?

    GeneralGeneral
    General
    Maths-

    Find the solution of the system of equations.
    y equals x squared minus 5 x minus 8
    y equals negative 2 x minus 4

    Find the solution of the system of equations.
    y equals x squared minus 5 x minus 8
    y equals negative 2 x minus 4

    Maths-General
    General
    Maths-

    Consider this simple bivariate data set.

    a) Draw a scatter plot for the data.
    b) Describe the correlation between x and y as positive or negative.
    c) Describe the correlation between x and y as strong or weak.
    d) Identify any outliers.

    Consider this simple bivariate data set.

    a) Draw a scatter plot for the data.
    b) Describe the correlation between x and y as positive or negative.
    c) Describe the correlation between x and y as strong or weak.
    d) Identify any outliers.

    Maths-General
    parallel
    General
    Maths-

    Find the solution of the system of equations.
    y equals 6 x squared plus 3 x minus 11
    y = 3x - 5


    You could solve a set of equations by graphing them. The points where the graphs intersect are the solutions.

    Find the solution of the system of equations.
    y equals 6 x squared plus 3 x minus 11
    y = 3x - 5

    Maths-General


    You could solve a set of equations by graphing them. The points where the graphs intersect are the solutions.

    General
    General

    How many syllables in 'poem'.

    How many syllables in 'poem'.

    GeneralGeneral
    General
    Maths-

    Consider this simple bivariate data set.

    a) Draw a scatter plot for the data.
    b) Describe the correlation between x and y as positive or negative.
    c) Describe the correlation between x and y as strong or weak.
    d) Identify any outliers.

    Consider this simple bivariate data set.

    a) Draw a scatter plot for the data.
    b) Describe the correlation between x and y as positive or negative.
    c) Describe the correlation between x and y as strong or weak.
    d) Identify any outliers.

    Maths-General
    parallel
    General
    Maths-

    Find the amount of Rs. 6000 lent from 18 th January 2006 to 12 th June 2006 at 9% per annum?

    Find the amount of Rs. 6000 lent from 18 th January 2006 to 12 th June 2006 at 9% per annum?

    Maths-General
    General
    General

    The first day of spring after a long, cold, winter in always a magical experience

    The first day of spring after a long, cold, winter in always a magical experience

    GeneralGeneral
    General
    Maths-

    The amounts of certain sum of money with simple interest at certain rate of interest are Rs. 5440 in 3 years and Rs. 6440 in 5 years. Find the sum and rate of interest?

    The amounts of certain sum of money with simple interest at certain rate of interest are Rs. 5440 in 3 years and Rs. 6440 in 5 years. Find the sum and rate of interest?

    Maths-General
    parallel
    General
    Maths-

    Find the solution of the system of equations.
    y equals negative 2 x squared plus 6 x minus 7
    y = 13 - 2x

    Find the solution of the system of equations.
    y equals negative 2 x squared plus 6 x minus 7
    y = 13 - 2x

    Maths-General
    General
    General

    Choose the words with suffix ness

    Choose the words with suffix ness

    GeneralGeneral
    General
    General

    Which sentence has the same meaning?
    "It was nice of you to helps tie the boy's shoe”

    Which sentence has the same meaning?
    "It was nice of you to helps tie the boy's shoe”

    GeneralGeneral
    parallel

    card img

    With Turito Academy.

    card img

    With Turito Foundation.

    card img

    Get an Expert Advice From Turito.

    Turito Academy

    card img

    With Turito Academy.

    Test Prep

    card img

    With Turito Foundation.