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20 March, 00:30

How long will it take for a $3000 savings account to double its value at a simple interest rate of 10%?

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  1. 20 March, 00:56
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    Given P=$3000

    R=10%

    And double of P means A=$6000

    Now, we know that

    A = P*R*t:100

    6000=3000*10*t:100

    6000*100:30000 = t

    20=t

    The Answer is 20 Yrs if rate was for year
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