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In how many years will a of money double itself 12% per annum?6 years 9 months7 years 6 months8 years 3 months8 years 4 months[Solved] A sum of money doubles itself in 10 years at Simple InterestFind the rate at which a sum of money will double itself in 3 years, if the interest is compounded annually.A sum of money doubles itself in 7 years. In how many years it will beA 10 years B 15 years C 20 years D 7 years
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Solution
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let sum=P
Time=2 Years
Amount=2P
According to the question
⇒P(1+r100)5=2P
⇒(1+r100)5=2
Cubic both side we gets
⇒(1+r100)15=8
⇒P(1+r100)15=8P
Hence,in 15 Years amount to eight times itself.
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