Question : At what time does a sum of money amount to twice itself at the simple interest of 25% per annum?
Option 1: 8 years
Option 2: 2 years
Option 3: 4 years
Option 4: 10 years
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Correct Answer: 4 years
Solution : Given: A sum of money amounts to twice itself at the simple interest of 25% per annum. Let the principal be INR $x$. According to the question, Total amount $=2x$ $\therefore$ Simple interest = $2x-x=x$ Also, We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$ So, $x=\frac{x\times 25\times \text{Time}}{100}$ ⇒ Time $=4$ years Hence, the correct answer is 4 years.
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