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In how many years will a sum of money double itself at 12% per annum?
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- 8 yrs. 6 months
- 6 yrs. 9 months
- 8 yrs. 4 months
- 7 yrs. 6 months
- 8 yrs. 6 months
Correct Option: C
If the principal be ₹ 100 then S.I. = ₹ 100.
| ∴ Time = | |
| Principal × Rate |
| Time = | = | year | ||
| 100 × 12 | 3 |
Time = 8 years 4 months
Second method to solve this question :
| T = | × 100 | |
| R |
| T = | × 100 | |
| 12 |
| T = | year | |
| 12 |
| T = | year | |
| 12 |
| T = 8 | year | |
| 3 |
T = 8 years 4 months.
