Question

A bank calculate the simple interest at the rate 12½%, how many years will it take for a fixed amount to become doubled:

• A. 4 Years
• B. 12 Years
• C. 8 Years
• D. 10 Years

Answer 1

Answer:

C. 8 Years

[ N = 100/R ] = 100/12½ = 200/25 = 8