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A certain sum is invested at a simple interest rate of 12% per annum for a certain period of time. If the sum becomes four times the principal at the
Question

A certain sum is invested at a simple interest rate of 12% per annum for a certain period of time. If the sum becomes four times the principal at the end of the period, what is the duration of the investment?

A.

22 years 

B.

24 years 

C.

25 years 

D.

20 years 

Correct option is C

Simple Interest = Principal×Rate×Time100\frac{Principal × Rate×Time}{100}​​

3P = P×12×Time100\frac{P× 12×Time}{100}​​

Time = 25 years

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