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Interest — MATHS STD 8 — Question

ICSE BoardEnglish MediumSTD 8MATHSInterest3 Marks
Question
At what rate, percent per year will a sum double itself in $6 \frac{1}{4}$ years?
✓

Answer

Let $P= Rs. 100$
$\therefore$ Amount $=2 \times Rs. 100= Rs. 200$
Interest $=\mathrm{A}-\mathrm{P}$
$= Rs. 200 - Rs. 100$
$= Rs. 100$
$\mathrm{T}=6 \frac{1}{4}$ years $=\frac{25}{4}$ years
$R=\frac{100 \times I}{P \times T}=\frac{100 \times 100}{100 \times \frac{25}{4}} \%=\frac{100 \times 100}{100} \times \frac{4}{25}$
$=16 \%$

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