A sum of money is deposited at a bank at a rate of 12½ annum simple interest. In how many years would the deposited money be dou

Question

aleksley [76]

3 years ago

6

A sum of money is deposited at a bank at a rate of 12½ annum simple interest. In how many years would the deposited money be dou

bled

Mathematics

1 answer:

Dmitrij [34] · Answer 1 · 2022-05-29T13:48:58+03:00

Answer:

It would take 10 years for the given sum of money be doubled at the given simple interest rate.

Step-by-step explanation:

A 10% interest would be added to the the principal amount after each year. So the interest would reach 100% i.e. equal to the principal amount in 10 years.