Question

    A sum of money doubles itself in 8 years at simple

    interest. In how many years will it become four times itself at the same rate of interest?
    A 12 years Correct Answer Incorrect Answer
    B 16 years Correct Answer Incorrect Answer
    C 20 years Correct Answer Incorrect Answer
    D 24 years Correct Answer Incorrect Answer

    Solution

    Time to double = 8 years To become four times, it will double again = 8 × 2 = 16 years Correct Option: b

    Practice Next
    More Simple and compound interest Questions

    Relevant for Exams:

    ask-question