A sum is invested at simple interest. If the rate of interest is 20% per annum, then in how much time will it become double of itself?
$$2P = P +Â \frac{P\times\ R\times\ T}{100}$$
Where P =Â principal amount
R = rate of interest
T = time
$$2P = P + \frac{P\times\ 20\times\ T}{100}$$
$$2P-P\ =\ \frac{P\times\ 20\times\ T}{100}$$
$$P\ =\ \frac{P\times\ 20\times\ T}{100}$$
$$1\ =\ \frac{\ 20\times\ T}{100}$$
$$1\ =\ \frac{\ T}{5}$$
T = 5 years
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