In how many years will Rs. 8700 double itself at 12% simple interest per annum?
- A. 8 years ✓
- B. 6 years
- C. 7 years
- D. 9 years
Correct answer
A. 8 years
Explanation
SI needed = 8700. Time = (8700 x 100)/(8700 x 12) = 8 years.
A. 8 years
SI needed = 8700. Time = (8700 x 100)/(8700 x 12) = 8 years.