In how many years will a sum of money double itself at 12% per annum?

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Question

In how many years will a sum of money double itself at 12% per annum?

Options:

A . 6 yrs. 9 months

B . 8 yrs. 6 months

C . 7 yrs. 6 months

D . 8 yrs. 4 months

Answer: Option D
Answer: (d)If the principal be Rs.100 then S.I. = Rs.100.Time = ${SI × 100}/\text"Principal × Rate"$= ${100 × 100}/{100 × 12} = 25/3$ years= 8 years 4 monthsUsing Rule 3,T = ${(n - 1)}/R × 100%$= ${(2 - 1)}/12 × 100%$= $100/12 = 25/3$ years.= 8$1/3$ years= 8 years, 4 months.

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