In how much time will an amount be doubled at the rate of ?
- A
- B
- C
- D
Solution & Step-by-step Explanation
Let the Principal amount be .
Since the amount doubles, the final Amount () will be .
Therefore, the Simple Interest () earned is:
The formula for Simple Interest is:
Given the rate of interest () = .
Substitute and into the formula:
Dividing both sides by :
Therefore, the amount will be doubled in .
Since the amount doubles, the final Amount () will be .
Therefore, the Simple Interest () earned is:
The formula for Simple Interest is:
Given the rate of interest () = .
Substitute and into the formula:
Dividing both sides by :
Therefore, the amount will be doubled in .