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Question

In what time will a sum double itself at 7% per annum simple interest ?

A 14.28 Yr
B 13 Yr
C 12.5 Yr
D 11 Yr
Answer & Explanation
Option: [A]

Let the initial amount be Rs. 100

It will be double. That means Rs. 200

The simple will be Rs. (200-100)= Rs. 100

We can calculate the time from the formula given below :

T=(SIx100)/(PxR)

T=(100x100)/(100x7)

T=14.28 Yr

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