Question
How long will a sum of money take to double, if it is
invested at 9.09% p.a. simple interest?Solution
Rate = 9.09% Let Principle =100 Amount =100×2=200 SI =A-P=200-100=100. T =SI ×100)/PR = (100×100) / 100×9.09 =10000/909 =11years (Approx)
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