How much time it will take to double the amount with simple interest, if the difference between compound interest and simple interest on an amount of Rs. 15,000 for 2 years is Rs. 96 ?

• 12.5 yrs
  
  it means Rs 96 is interest for one year on one year interest on Rs 15000.
  If I is interest on Rs 15000 /- for ne year @ r%, then
  
  96 = I*1*r/100 where I= 15000*1*r/100
  so r= 8%
  
  if t is time taken to double the amount with simple interest @ 8%, then
  t = (15000*100)/(15000*8) = 100/8 = 25/2 = 12.5 years.
• 12 years agoHelpfull: Yes(3) No(1)
• 12.5 yrs
  
  it means Rs 96 is interest for one year on one year interest on Rs 15000.
  If I is interest on Rs 15000 /- for ne year @ r%, then
  
  96 = I81*r/100 where I= 15000*1*r/100
  so r= 8%
  
  if t is time taken to double the amount with simple interest @ 8%, then
  t = (15000*100)/(15000*8) = 100/8 = 25/2 = 12.5 years.
• 12 years agoHelpfull: Yes(2) No(0)
• check out this link http://www.indiabix.com/aptitude/compound-interest/049003
• 12 years agoHelpfull: Yes(2) No(0)