Howlongwillittaketodoubleaninvestmentataninterestrateof10%perannum? use simple interest

To double an investment with a simple interest rate of 10% per annum, you would use the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount (initial investment), R is the rate of interest per period, and T is the time the money is invested for.

In this case, you want to find out when the interest (I) is equal to the principal (P), because that's when your investment has doubled.

So, you set up the equation P = PRT.

Since you want to find out the time (T), you rearrange the equation to solve for T: T = I / (PR).

The interest rate (R) is 10% or 0.10, and since you want the interest (I) to equal the principal (P), you can substitute P for I.

So the equation becomes: T = P / (P * 0.10).

Simplifying that gives: T = 1 / 0.10.

So, it will take 10 years to double an investment at an interest rate of 10% per annum using simple interest.