In how many years will Rs. 8500 double itself at 8% simple interest per annum?
- A. 12 years ✓
- B. 11 years
- C. 10 years
- D. 14 years
Correct answer
A. 12 years
Explanation
SI needed = 8500. Time = (8500 x 100)/(8500 x 8) = 12 years.
A. 12 years
SI needed = 8500. Time = (8500 x 100)/(8500 x 8) = 12 years.