What will be Time Required ? If

In certain years a sum of money is doubled itself at 6.25% simple interest per annum, then the required time will be

  1. 12.5 years
  2. 16 years
  3. 32/3 years
  4. 8 years
Anurag Mishra Professor Asked on 12th August 2015 in Maths.
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    Best answer

    Answer:  (2) 16 years

    Explanation:-
    Given-
    Rate = 6.25 %,
    Let the principal be Rs. X ,
    Then, the amount = 2 X   Simple Interest = 2  X- X = X

    Formula-
    Simple Interest = P x R x T/100
    Where, P = principal , R = rate, & T = time.

    Then,  X = X x 25 x T /100 x 4
    1 = T/ 4 x 4
    T = 16 years/

    Hence, the answer is (2) 16 years.

    Anurag Mishra Professor Answered on 12th August 2015.
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