In what time a sum of money double itself at 3% per annum simple interest? Options: A . &nbsp29 years B . &nbsp33 1/3 years C . &nbsp23 1/3 years D . &nbsp13 1/3 years

In what time a sum of money double itself at 3% per annum simple interest?

Question

In what time a sum of money double itself at 3% per annum simple interest?

Options:

A . 29 years

B . 33 1/3 years

C . 23 1/3 years

D . 13 1/3 years

Answer: Option B

P = (P*3*R)/100

R = 33 1/3%

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