At what rate will a sum of money becomes double in 20 years at simple interest?

Answer Expert Verified At 5\% simple interest, a sum of money doubles itself in 20 years.

How much time will it take to double the principal if the rate of interest is 20\% per annum?

Let time be x. The interest is calculated half-yearly. Let the amount be y, then interest is also equal to y. ∴ In 5 years a certain amount will be doubled at simple interest if the rate of interest is 20\%.

At what rate of simple interest will a sum of money doubles itself in 10 years?

10\%
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 rate of simple interest will a sum of money doubles itself in 12 1 2 years?

Let the principal be x. Then, the amount after 12 years be 2x. Let the rate of interest be R. ∴ The rate of interest is 25/3\%.

At which a sum will become 10 times itself in 20 years at simple interest is?

Answer is “40\%”

What rate of interest will a sum of money double itself in 5 years?

If a sum doubles itself in 5 years by simple interest. Calculations: Let P be the principal amount and R be the rate of interest. ∴ The rate of simple interest p.a. is 20\%.

How long will a sum of money take to double?

The Rule of 72 is a simple way to determine how long an investment will take to double given a fixed annual rate of interest. By dividing 72 by the annual rate of return, investors obtain a rough estimate of how many years it will take for the initial investment to duplicate itself.

In what time will a sum of money double itself at 8\% pa?

Answer: 10 years. Formula : So, a sum of money double itself at 8\% p.a in 10 years.

At what rate of interest per annum will a sum of money doubles itself in 25 years?

The Sum of money doubles itself in 25 years. Concept: Simple interest is the interest calculated on the principal portion of the loan or the original contribution to the saving account. ∴ The rate of interest per annum is 4\%.

At what rate Percent of simple interest will a sum of money doubles itself in 25 years?

So rate of interest should be 3 (1/3) to get some of money double itself.

At what rate of interest does the sum of money doubles in 12 years?

Rate of interest = 8.33 \% if A sum of money doubles itself in 12 years.

In what time does a sum of money becomes thrice?

∴ In 40 year the sum will be thrice of it at the rate of interest 5\% per annum.

How many years does a sum of money double itself?

A sum of money becomes 3 times itself in 20 years at a certain rate of simple interest. In how many years does it double itself at the same rate of simple interest? – Quora A sum of money becomes 3 times itself in 20 years at a certain rate of simple interest.

What is the rate where the interest equals the principle in 20 years?

For simple interest, the interest earned is determined by the formula: I = Prt where I = interest, P = principle, r = rate, and t = time. You asked what is the rate where the interest equals the principle in 20 years, i.e., the amount doubles. R = I/ (Pt) =I/P x 1/20yrs = 1 × .05 per year or 5\% per year interest.

What is the value of 72/20 times 20 years?

When interest rate and years multiply and equal 72, you have your answer for a doubling of value. Using fairly simple algebra equations, 72 / 20 = 3.6. Probably not exact to 3 decimal points, but usually reasonably close. A sum of money becomes double in 20 years at the rate of a simple interest.

How long will it take to double my money to $1000?

It will take 20 years to double the base amount: 1000 * 5\% a year = 1050 at the end of each year. Now when you have 2000$ as a basic amount you’ll need half the time to get another 1000$ at 5\% per year rate: If it doubles in 20 years, you’ll get triple after 30 years.

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