SOLUTION: a lump sum of money is invested at 10% simple interest rate. how long it will take to increase by 50%?

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Question 1058850: a lump sum of money is invested at 10% simple interest rate. how long it will take to increase by 50%?
Answer by math_helper(2461) About Me  (Show Source):
You can put this solution on YOUR website!

Since it is simple interest, 10% (per year, assumed) would take:
50% / 10% = 0.5 / 0.1 = 5 years
to increase the investment by 50%.