How many years an amount becomes double if rate of interest given is 20\%?
Table of Contents
- 1 How many years an amount becomes double if rate of interest given is 20\%?
- 2 In what time a sum of money will double itself at a rate of simple interest of 8\% pa?
- 3 What time will be required for a sum of money to double itself at 5 simple interest?
- 4 In what time will sum of money doubles itself at 15 per annum?
- 5 How long will it take a sum to double at 9 interest?
- 6 How many years will a certain sum of money double itself at 22\% simple interest?
- 7 How many years will a sum of money double itself at 12\% per annum?
- 8 In what time will a sum of money double itself at 5\% per annum Brainly?
- 9 What is the sum of money doubled in 20 years?
- 10 What is the doubling time for simple interest?
- 11 How many years does it take to Double Your Money?
How many years an amount becomes double if rate of interest given is 20\%?
Hence, principally invested at the rate of 20\%, would be 8 times in 35 years, if the interest received is @20\% per annum. While, if you receive interest on a compounding basis, the same amount, at the same rate of interest could be received in 12 years on an average, if the compounding is done annually.
In what time a sum of money will double itself at a rate of simple interest of 8\% pa?
Answer: 10 years. Formula : So, a sum of money double itself at 8\% p.a in 10 years.
At what time will a sum of money double on itself at the rate of 10\% per annum?
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.
What time will be required for a sum of money to double itself at 5 simple interest?
So, the time taken is 14 years and 2 months.
In what time will sum of money doubles itself at 15 per annum?
Answer is n=100/r. Therefore n=100/7=14.28. So it will take 14.28 years to double my money at 7\% simple interest rate. For compound interest, the formula is r=72/n, where r is the rate of interest and n is the number of years.
In what time will a sum of money doubles itself at 12\% per annum?
8 years and 4 months
In this problem, it is given that the rate is 12 \% per annum and we need to find the time in which the principal amount doubles. The total amount at the end of N years is the sum of simple interest and the principal amount. Hence, the required time is 8 years and 4 months.
How long will it take a sum to double at 9 interest?
For example, with a 9\% rate of return, the simple calculation returns a time to double of eight years. If you use the logarithmic formula, the answer is 8.04 years—a negligible difference. In contrast, if you have a 2\% rate of return, your Rule of 72 calculation returns a time to double of 36 years.
How many years will a certain sum of money double itself at 22\% simple interest?
For example, say you have a very attractive investment offering a 22\% rate of return. The basic rule of 72 says the initial investment will double in 3.27 years.
How long will an amount of money double at a simple interest of 2 per annum?
50 years
Therefore, it will take 50 years to get the double amount at a simple interest rate 2 percent per annum.
How many years will a sum of money double itself at 12\% per annum?
In this problem, it is given that the rate is 12 \% per annum and we need to find the time in which the principal amount doubles. The total amount at the end of N years is the sum of simple interest and the principal amount. Hence, the required time is 8 years and 4 months.
In what time will a sum of money double itself at 5\% per annum Brainly?
Answer: It takes 14.2 years for the amount to double itself.
In what time will a sum of money doubles itself at 12 per annum?
What is the sum of money doubled in 20 years?
At a simple interest, a sum of money is doubled in 20 years. What is the rate of interest? – Quora At a simple interest, a sum of money is doubled in 20 years.
What is the doubling time for simple interest?
The doubling time for simple interest is simply 1 divided by the periodic rate. The formula for doubling time with simple interest is used to calculate how long it would take to double the balance on an interesting bearing account that has simple interest.
What is the rate where the interest equals the principle in 20 years?
For simple interest, the interest earned is determined by the formula: I = Prt where I = interest, P = principle, r = rate, and t = time. You asked what is the rate where the interest equals the principle in 20 years, i.e., the amount doubles. R = I/ (Pt) =I/P x 1/20yrs = 1 × .05 per year or 5\% per year interest.
How many years does it take to Double Your Money?
If you wanted to double your money at the rate of 15\% per annum simple interest you will take 100/15 = approximately 6 years and 7 months. However if it compounds annually then it will double in just 5 years. A sum of money doubles in 20 years at simple interest, in how many years will it triple?