in how many years will rs 15000 will be doubled at the rate of 12 1/2 p. c. p. a.
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in how many years will rs 15000 will be doubled at the rate of 12 1/2 p. c. p. a.
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Answer:
The Time period at which principal amount gets double is 5.8 years
Step-by-step explanation:
Given as :
The principal = p = Rs 15000
The Amount = A = 2 p = 2 × Rs 15000 = Rs 30,000
The rate of interest = 12 % = % p.c.p.a
Let The time period = T years
From compound interest method
Amount = Principal ×
Or, 2 p = p ×
Or, =
Or, 2 =
Taking log both side
Log 2 = Log
Or, 0.3010 = T × Log 1.125
Or, 0.3010 = T × 0.0511
∴ T =
i.e T = 5.8 years
So, The Time period at which principal amount gets double = T = 5.8 years
Hence, The Time period at which principal amount gets double is 5.8 years Answer