Question

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

• A. 6 years 9 months
• B. 7 years 6 months
• C. 8 years 3 months
• D. 8 years 4 months

Answer 1

The correct option is D 8 years 4 months

Let sum=x
After t year it double then interest=x
Rate of interest=12%
Hence$Time=\frac{x\times 100}{x\times 12}=8Years4months$