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In how many years will a certain sum of money double itself at 5% Simple Interest?
Question

In how many years will a certain sum of money double itself at 5% Simple Interest?

A.

18

B.

15

C.

22

D.

20

Correct option is D

Formula Used:
S.I =P ×\times​ r×\times t/100
Calculation:
Let the time period be 't' years and the sum(principal) be 'P',amount = 2P, S.I = 2P - P = P, rate = 5% p.a.
P = P ×\times5×\times​t/100
=> t = 20 years
required time = 20 years

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