In how many years will Rs. 9050 double itself at 5% simple interest per annum?
- A. 22 years
- B. 20 years ✓
- C. 23 years
- D. 16 years
Correct answer
B. 20 years
Explanation
SI needed = 9050. Time = (9050 x 100)/(9050 x 5) = 20 years.
B. 20 years
SI needed = 9050. Time = (9050 x 100)/(9050 x 5) = 20 years.