In how many years will Rs. 1100 double itself at 4% simple interest per annum?
- A. 25 years ✓
- B. 20 years
- C. 23 years
- D. 21 years
Correct answer
A. 25 years
Explanation
SI needed = 1100. Time = (1100 x 100)/(1100 x 4) = 25 years.
A. 25 years
SI needed = 1100. Time = (1100 x 100)/(1100 x 4) = 25 years.