Professional Documents
Culture Documents
Q. in How Many Years The Amount of Money Will Be Double The
Q. in How Many Years The Amount of Money Will Be Double The
Q. How many time will take for the interest on rs.6000 at 12%
to be equal to interest on rs.4000 for 12 years @9% .Both are
simple interest.?
ANS: P = rs.6000
r =12%
Condition 2:
P =rs.4000
r =9%
n=12years
Under condition 2,
I = PnR
=4000×9%×12
I = rs.4,320
We have to find out that within how many years interest will
be same as condition 2.
I = 4,320
I = PnR
4,320 = 6000×n×12/100
n=4,320×100/6000×12
n=6 years
So it will take 6 years for the internet to be equal .