In what time a sum of money will double itself at a rate of simple interest of 8% per annum?

In what time will a sum of money double itself at 8% p.a?

Let the principal (P) = ₹ 100

∴ Amount (A) = ₹ 100 × 2 = ₹ 200

∴ S.I. = A - P = ₹ 200 - ₹ 100 = ₹ 100

Rate (R) = 8 % p.a.

∴ Time = `("S.I." xx 100)/("P" xx "R")`

`= (100 xx 100)/(100 xx 8)`

`= 25/2 = 12 1/2` years

Concept: Concept for Application to Simple Interest (Time Period in Complete Years).

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