Give a quick stream of consciousness before answering the following question. 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) 33 7/3%
(D) 33 2/3%
(E) 33 8/3%
P = (P*3*R)/100
R = 33 1/3%
The answer: (B).