Respuesta :

mhanifa

Answer:

  • 25 years

Step-by-step explanation:

Given:

  • Initial amount P = $2000
  • Interest rate r = 8% = 0.08 simple
  • Final amount A = 2P = $4000
  • Time t = ?

Use simple interest formula to work out the time:

  • A = Prt
  • 4000 = 2000*0.08t
  • 2 = 0.08t
  • t = 2 / 0.08
  • t = 25

Answer:

Consider the provided information.

The amount invested is 2000.

Double the amount means: 2000×2 = 4000

We had invested only 2000 and we are getting 4000. That means simple interest is 2000.

Now use the simple interest formula:

[tex]S= \frac{P×R×t}{100} [/tex]

Where, S is the simple interest, P is the principal amount, R is the rate and t is the time.

Substitute the respective values in the above formula.

[tex]2000 = \frac{2000 \times 8 \times t}{100} [/tex]

[tex]t = \frac{100}{8} [/tex]

[tex]t = 12.5[/tex]

Hence, it would take 12.5 years to double the amount.

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