In how many years will a sum of money double itself at 6 1/4% simple interest per annum? (S.S.C., 2010) · ABC26GN3990
Subject: General Aptitude · Chapter: Simple Interest
In how many years will a sum of money double itself at $6 \frac{1}{4} \%$ simple interest per annum? (S.S.C., 2010)
Answer
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Explanation
Let principal $=P$. Then, S.I. $=P$ and $R=6 \frac{1}{4} \%$. $$\therefore \quad \text { Time }=\left(\frac{100 \times P}{P \times \frac{25}{4}}\right) \mathrm{yrs}=\left(\frac{100 \times 4}{25}\right) \mathrm{yrs}=16 \mathrm{yrs} .$$
Explanation as extracted from the printed page; notation may be imperfect.
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