In how many years will Rs. 3500 double itself at 12% simple interest per annum?
- A. 10 years
- B. 7 years
- C. 9 years
- D. 8 years ✓
Correct answer
D. 8 years
Explanation
SI needed = 3500. Time = (3500 x 100)/(3500 x 12) = 8 years.
D. 8 years
SI needed = 3500. Time = (3500 x 100)/(3500 x 12) = 8 years.