In how many years will Rs. 5400 double itself at 5% simple interest per annum?
- A. 17 years
- B. 20 years ✓
- C. 23 years
- D. 16 years
Correct answer
B. 20 years
Explanation
SI needed = 5400. Time = (5400 x 100)/(5400 x 5) = 20 years.
B. 20 years
SI needed = 5400. Time = (5400 x 100)/(5400 x 5) = 20 years.