Discussion

In what time a sum of money double itself at 3% per annum simple interest?

Answer: B

\[ \text{SI} = \frac{P \times R \times T}{100} \]

Doubling means the interest equals the principal.

\[ P = \frac{P \times 3 \times T}{100} \quad\Longrightarrow\quad 100 = 3T \]

\[ T = \frac{100}{3} = 33\tfrac{1}{3} \text{ years} \]

The rule is simply \( T = \tfrac{100}{R} \) for doubling under simple interest.

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