Question

Let us write the number of years for which a principal becomes twice of its amount having the rate of simple interest of 6 \frac{1}{4} % per annum

  • Simple Interest
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Answer

Let the principal = ₹ 100

Amount = ₹ 200 – ₹ 100 = ₹ 100

Rate = 6 \frac{1}{4} %

∴ Time = \frac{\text { Interest } × 100}{\text { Principal } × \text { Rate }}

= \frac{100 × 100}{100 × \frac{25}{4}}

= \frac{100 × 4}{25} = 16 years

∴ Required time = 16 years

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