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
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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