New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    In how many years will ₹7,500 double at 8% simple

    interest ?
    A 12.5 years Correct Answer Incorrect Answer
    B 16 years Correct Answer Incorrect Answer
    C 10 years Correct Answer Incorrect Answer
    D More than one of the above Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    ATQ, To double an amount using simple interest, use the formula:

    Given rate R=8:

     It will take 12.5 years for ₹7,500 to double at 8% simple interest.

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