At approximately 7.9% a sum will double itself in 10 years.
For rough mental arithmetic, there is a 'rule of 70' for doubling of an investment. Divide the number 70 by the time period. e.g. 70 / 10 in the example given. Works reasonably well for small interest rates.
5 years
To calculate simple interest, you can use the formula: Simple Interest = Principal × Rate × Time. For a principal of 180,000 at an interest rate of 7% per annum over one year, the calculation would be: Simple Interest = 180,000 × 0.07 × 1 = 12,600. Thus, the simple interest after one year is 12,600.
If it is simple interest, then it is 2700. ■
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
5,132.33^10
$494.34 Interest= principal amount * time* simple interest %
Rs 80.
5 years
670.50
To calculate simple interest, you can use the formula: Simple Interest = Principal × Rate × Time. For a principal of 180,000 at an interest rate of 7% per annum over one year, the calculation would be: Simple Interest = 180,000 × 0.07 × 1 = 12,600. Thus, the simple interest after one year is 12,600.
If it is simple interest, then it is 2700. ■
Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).Assuming it is 2.05 percentper annum, then 2.05% of the amount that you deposit (or 2.05% of the average amount of your deposit).
To calculate the total amount after 10 years at a simple interest rate of 20% per annum, you need to consider that the interest is added to the principal each year. The sum will be multiplied by 1.2 (100% + 20%) each year for 10 years. Therefore, the sum will be multiplied 10 times over the course of 10 years.
simple interst is when you earn interest from your principal but compound interest is when you earn interest from your principal as well as from your previous interest
5,132.33^10
Rs 84 in all.
120