Table of Contents
- 1 At what rate does a sum doubles itself in 8 years?
- 2 How long will it take for money to double itself at 8 compounded quarterly?
- 3 At what rate of interest a sum of money doubles itself in 10 years in simple interest?
- 4 At what rate of interest a sum of money doubles itself in 10 years?
- 5 At what rate percent per year will a sum of money double itself in 10 years?
- 6 At what percent of simple interest sum of money will double itself in 7 years?
At what rate does a sum doubles itself in 8 years?
Where P is principal amount, R is rate of interest and T will be time period. Hence, the rate of interest to double a money in 8 years will be 12.5\% per annum.
How long will it take for money to double itself at 8 compounded quarterly?
The result is the number of years, approximately, it’ll take for your money to double. For example, if an investment scheme promises an 8\% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.
How long would it take your money to double itself if it is invested at 6\% simple interest?
To use the Rule of 72 in order to determine the approximate length of time it will take for your money to double, simply divide 72 by the annual interest rate. For example, if the interest rate earned is 6\%, it will take 12 years (72 divided by 6) for your money to double.
How many years will a sum of money double itself?
10 years
the sum of money doubles itself. ∴ Time taken is 10 years.
At what rate of interest a sum of money doubles itself in 10 years in simple interest?
10\% per annum
Hence, it will take 10 years for the sum of money to double itself with the rate of 10\% per annum simple interest.
At what rate of interest a sum of money doubles itself in 10 years?
10\%
Rate = 100/10 = 10\%. ∴ The rate of interest is 10\%.
How long to the nearest year will it take a sum of money to double if it is invested at 15\% compounded annually?
For simple interest, you want to double the amount of money. So take 100 divide by 15 the answer is about 6.7. It will take about 6.7 years.
At what rate will a sum of money double itself in 10 years?
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.
At what rate percent per year will a sum of money double itself in 10 years?
As we know the simple interest means principle amount subtracted from final amount i.e. Hence the required rate in which the sum becomes double itself in 10 years is 10\%.
At what percent of simple interest sum of money will double itself in 7 years?
721\%