Thủ Thuật về A sum of money becomes double on simple interest in 20 years. it will quadruple the same rate in: Chi Tiết
Lê Mạnh Hùng đang tìm kiếm từ khóa A sum of money becomes double on simple interest in 20 years. it will quadruple the same rate in: được Update vào lúc : 2022-10-15 16:14:09 . Với phương châm chia sẻ Bí quyết Hướng dẫn trong nội dung bài viết một cách Chi Tiết 2022. Nếu sau khi Read tài liệu vẫn ko hiểu thì hoàn toàn có thể lại Comments ở cuối bài để Tác giả lý giải và hướng dẫn lại nha.Answer
Nội dung chính- Compound Interest CurvePractice using the Rule of 72Why Stop a Double?Why Does the Rule of 72 Work?What will be the rate of interest if a sum of money doubles in 20 years?In what time will a sum of money double itself 20% per annum simple interest?At what rate of simple interest will be sum double itself in 25 years?At what rate will a sum of money doubles itself in 4 years?
Verified
Hint:- In 8 years money from Interest will be come equal to the principal
amount invested. So, money had been doubled in 8 years.
Let the initial amount of money invested will be Rs. x.
Then after 8 years money had become 2x.
Out of Rs. 2x, money from interest will be 2x – initial amount invested = 2x – x = x.
Let the rate of interest be r.
So, now we will use a simple interest formula.
According to Simple Interest (S.I) formula.
[ Rightarrow S.I. =
dfracPRT100].
Where P is principal amount, R is rate of interest and T will be time period.
So, putting the values in the above formula. We will get,
[ Rightarrow x = dfracxr(8)100]
On solving the above equation. We will get,
[ Rightarrow text rtext = text dfrac1008text = text 12.5]
Hence, the rate of interest to double a money in 8 years will be 12.5% per annum.
Note:- Whenever we came up with this type of problem where we are asked
to
find rate of interest then first, we will find the interest on principal amount by
subtracting principal amount from the money after 8 years and then we will
assume rate of interest to be r and then apply, Simple Interest formula and
find the required value of rate of interest.
Have you always wanted to be able to do compound interest problems in your head? Perhaps not... but it's a very useful skill to have because it gives you a lightning fast benchmark to determine how good (or not so good) a potential investment is likely to be.
The rule says that to find the number of years required to double your money a given interest rate, you just divide the interest rate into 72. For example, if you want to know how long it will take to double your money eight percent interest, divide 8 into 72 and get 9 years.
Y = 72 / r and r = 72 / Y
where Y and r are the years and interest rate, respectively.
Compound Interest Curve
Suppose you invest $100 a compound interest rate of 10%. The rule of 72 tells you that your money will double every seven years, approximately:
Years Balance Now $100 7 $200 (doubles every 14 $400 seven years) 21 $800
If you graph these points, you start to see the familiar compound interest curve:
Practice using the Rule of 72
It's good to practice with the rule of 72 to get an intuitive feeling for the way compound interest works. So...
Why Stop a Double?
There's nothing sacred about doubling your money. You can also get a simple estimate for other growth factors, as this calculator shows:
Why Does the Rule of 72 Work?
If you want to know more, see this explanation of why the rule of 72 works. (Brace yourself, because it's slightly geeked out.)
Solution : Let Rs. P become 2 times in 20 years the rate of 'r%' per annum and will become 4 times in T years
`because2xxP=P+(Pxxrxx20)/100`...(i)
and`4xxP= P+(PxxrxxT)/100`...(ii)
`2xxP= P(1+(rxx20)/100)`
`rArr 2= (100+rxx20)/100`
`rArr rxx20 = 200-100`
`rArr r=100/20= 5%`
Substituting the value of r in equation (ii) `rArr 4P= (P(100+5xxT))/100`
`4= (100+5xxT))/100`
`5xxT=400-100=300`
`T=300/5= 60`
hence required time = 60 years
Free
Indian Post Postman 2022: Full Mock Test
100 Questions 100 Marks 90 Mins
Latest India post Postman Updates
Last updated on Sep 22, 2022
The Indian Post has started inviting applications for the post of Postman. The recruitment of Indian Post Postman is done region-wise. The official notification for the recruitment is to be released. There is a total vacancy of 59099. The age limit to apply for the post of Indian Post Postman is from 18 to 27 years. Anyone with a qualification of Class 12 or its equivalent is eligible to fill up the application form. The candidates should go through the Indian Post Postman salary and job profile to have a clear idea about the job in detail.
Let's discuss the concepts related to Interest and Simple Interest. Explore more from Quantitative Aptitude here. Learn now!
What will be the rate of interest if a sum of money doubles in 20 years?
Hence, R = 5%.In what time will a sum of money double itself 20% per annum simple interest?
∴ The required time is 5 years The exam was held on 22nd February 2022.At what rate of simple interest will be sum double 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 will a sum of money doubles itself in 4 years?
∴ The rate of interest is 25% The board has released a total of 400 vacancies. Tải thêm tài liệu liên quan đến nội dung bài viết A sum of money becomes double on simple interest in 20 years. it will quadruple the same rate in: