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Question 146
In how many years will a sum of money double itself at 25/4 simple interest per annum ?
Solution
For simple interest it, I (interest value) will be = $$\frac{P \times R \times T}{100}$$ (where P is principal amount, R is rate and T is time)
for Total amount to be double, interest value I will be = P
Hence putting values in formulae P =Â $$\frac{P \times R \times T}{100}$$ (put R = $$\frac{25}{4}$$)
we will get T = 16
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