Best answer

Answer. I Think the answer is 20 years. As the interest is 10% per annum.In one day the amount's 10% will be added.So for becoming the double amount is will take 10 year.

Answered by: Slasengger Date created: May 13, 2022

What is sum of money in simple interest?

Asked By: cletus Date created: May 14, 2022

A sum of money at simple interest amounts to 815 in 3 years and to 854 in 4 years. Interest for 1 year = 854-815= Rs 39. Interest for 3 years = 39*3= 117. sum = 815-117 = Rs.

Answered By: Gyrocode.com Date created: May 15, 2022

At what rate of simple interest will a sum of money double itself in 8 years?

Asked By: Nicolas Hevia Date created: May 13, 2022

12.5% per annumAt what rate percent per annum will a sum of money double in 8 years. Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

Answered By: Seva Alekseyev Date created: May 14, 2022

At what rate of simple interest will money double itself in 7 years?

Asked By: Nejat Date created: May 08, 2022

Answer. It take about 14 years for four folding in which doubling the sum of money takes place in 7 years.

Answered By: DevSolar Date created: May 11, 2022

How long will it take a certain sum of money to triple itself?

Asked By: SFun28 Date created: Apr 30, 2022

A sum of money at simple interest double itself in 4 years. in how many years will it triple itself... At what rate percent per annum simple interest, will a sum of money triple itself in 25 years?

Answered By: Sachila Ranawaka Date created: May 02, 2022

What is the sum of money set aside on which interest is paid?

Asked By: Gilles Quenot Date created: May 10, 2022

Money Matters Chap 5 The Banking SystemTermDefinitionLiquidThe capability to withdraw money at any time without penaltyPrincipalA sum of money set aside on which interest is paidSimple interestInterest computed on principal once in a certain period of time Interest (I) = Principal (P) X Rate (R) X Time (T)27 more rows

Answered By: Jayesh Bhoi Date created: May 12, 2022

How long will it take money to triple itself if invested at 8% compounded annually?

Asked By: Martin Tournoij Date created: May 01, 2022

The Rule of 115 It's as simple as dividing your interest rate by 115. The quotient is the amount of time it will take you to triple your money. For example, if your money earns an 8 percent interest rate, it will triple in 14 years and 5 months (115 divided by 8 equals 14.4).

Answered By: Dolphin Date created: May 03, 2022

At what interest rate compounded continuously must money be invested to triple in 4 years?

Asked By: Llama Date created: May 02, 2022

Question: At What Nominal Rate Compounded Continuously Must Money Be Invested To Triple In 4 Years? A Rate Of % Is Required For Money To Triple In 4 Years.

Answered By: Niyaz Date created: May 04, 2022

At what interest rate will a sum of money double itself in 3 years if the interest is compounded annually?

Asked By: June7 Date created: May 03, 2022

Answer. ☆☆☆Let the rate percent per annum be R. Thus, the required rate is 25.99% per annum.

Answered By: Karol Zlot Date created: May 04, 2022

At what percent simple interest will a sum of money double itself in 16 years?

Asked By: JaredPar Date created: May 13, 2022

541​%

Answered By: jmcilhinney Date created: May 16, 2022

At what rate does the simple interest a sum of money Triple itself in 25 years?

Asked By: Cristian Date created: Apr 29, 2022

8% Was this answer helpful?

Answered By: Pritom Sarkar Date created: Apr 30, 2022

Related Question Answers

tiboo

Professor

At what rate of interest a sum of money doubles itself in 10 years?

In how many years will a sum of money double itself with the rate of 10% per annum simple interest? Here, we have R = 10% and have to calculate t for the sum of the money (that is P) to double. Hence, it will take 10 years for the sum of money to double itself with the rate of 10% per annum simple interest.

kostja

Professor

At what rate of interest will a sum of money double in 5 years?

14.4% per yearSimilarly, if you want to double your money in five years, your investments will need to grow at around 14.4% per year (72/5). If your goal is to double your invested sum in 10 years, you should invest in a manner to earn around 7% every year. Rule of 72 provides an approximate idea and assumes one time investment.

dariosicily

Professional

At what rate of interest will a sum of money doubles itself in 50 3 years?

Time ; t = 50 3 years so , simple interest , I = p × r × t 100 = p × r × 50 3 × 100 = pr 6 So sum of money after 50 3 years = p + I = p + pr 6 Now according to the question we have ; Sum of money becomes double after 50 3 years , so we have ; 2 p = p + pr 6 ⇒ p = pr 6 ⇒ r = 6 Therefore rate of interest is 6 % .

Evg

Guest

At what simple interest rate will a sum of money be doubled in 5 years?

Alternatively you can calculate what interest rate you need to double your investment within a certain time period.

For example if you wanted to double an investment in 5 years, divide 72 by 5 to learn that you'll need to earn 14.4% interest annually on your investment for 5 years: 14.4 × 5 = 72..