In what time a sum of money double itself at 3% per annum simple interest?
Options:
(A) 33 1/9%
(B) 33 1/3%
(C) 332 1/3%
(D) 33 9/3%
(E) 13 1/3% Think first, then make a decision. Some random thoughts:
P = (P*3*R)/100
R = 33 1/3% So the answer is (B).