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      Question

      How long will a sum of money take to double, if it is

      invested at 9.09% p.a. simple interest?
      A 12 years Correct Answer Incorrect Answer
      B 14 years Correct Answer Incorrect Answer
      C 11 years Correct Answer Incorrect Answer
      D 13 years Correct Answer Incorrect Answer

      Solution

      Rate = 9.09% Let Principle =100 Amount =100ร—2=200 SI =A-P=200-100=100. T =SI ร—100)/PR = (100ร—100) / 100ร—9.09 =10000/909 =11years (Approx)

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