4.the amount in an account which was opened 180 days ago is RM205. iF the account was offered a simple interest of 5 percent per annum, find the original principal.

Question

5.how long does it take a sum of money to double itself in four years ?

Answer 1

#4. in half a year, it grew by half of 5%, so it started out as

205.00/1.025 = 200.00

#5. Ummm, four years?

Answer 2

#5.how long does it take a sum of money to double itself at a simple interest rate of 6 percent annum ?

Answer 3

well, what's 1/.06 ?

Answer 4

no, 1/.06 is not 6%

1/.06 = 16.66 is the number of years it takes to double the money.

every year adds 6% after 16.66 years, 100% has been added. The money has doubled.