In how many years will Rs. 7950 double itself at 12% simple interest per annum?
- A. 7 years
- B. 8 years ✓
- C. 10 years
- D. 9 years
Correct answer
B. 8 years
Explanation
SI needed = 7950. Time = (7950 x 100)/(7950 x 12) = 8 years.
B. 8 years
SI needed = 7950. Time = (7950 x 100)/(7950 x 12) = 8 years.