2010 · Q35
A sum of money lent on simple interest trebles itself in 15 years and 6 months. In how many years will it be doubled?
Elementary MathematicsInterest
- A6 years and 3 months
- B7 years and 9 months
- C8 years and 3 months
- D9 years and 6 months
Explanation
Rate = 2P/(15.5P); doubling needs 15.5/2 = 7.75 years = 7 years 9 months.