In how many years will Rs. 3950 double itself at 8% simple interest per annum?
- A. 13 years
- B. 10 years
- C. 12 years ✓
- D. 11 years
Correct answer
C. 12 years
Explanation
SI needed = 3950. Time = (3950 x 100)/(3950 x 8) = 12 years.
C. 12 years
SI needed = 3950. Time = (3950 x 100)/(3950 x 8) = 12 years.