In how many years will Rs. 5500 double itself at 6% simple interest per annum?
- A. 16 years
- B. 17 years ✓
- C. 18 years
- D. 21 years
Correct answer
B. 17 years
Explanation
SI needed = 5500. Time = (5500 x 100)/(5500 x 6) = 17 years.
B. 17 years
SI needed = 5500. Time = (5500 x 100)/(5500 x 6) = 17 years.