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Discussion :: Simple Interest

  1. In what time a sum of money double itself at 3% per annum simple interest?
    2. A.
    29 years
    B.
    33 1/3 years
    C.
    23 1/3 years
    D.
    13 1/3 years

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    Answer : Option B

    Explanation :

    P = (P*3*R)/100

    R = 33 1/3%

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