In how many years will Rs. 4800 double itself at 12% simple interest per annum?
- A. 10 years
- B. 9 years
- C. 8 years ✓
- D. 6 years
Correct answer
C. 8 years
Explanation
SI needed = 4800. Time = (4800 x 100)/(4800 x 12) = 8 years.
C. 8 years
SI needed = 4800. Time = (4800 x 100)/(4800 x 12) = 8 years.