Discussion
A sum of money becomes double itself in 8 years at simple interest. How many times will it become 10 years at the same rate?
Answer: A
Doubling in 8 years fixes the rate:
\[ P = \frac{P \times R \times 8}{100} \quad\Longrightarrow\quad R = 12.5\% \]
After 10 years:
\[ \text{amount} = P\left(1 + \frac{12.5 \times 10}{100}\right) = P(1 + 1.25) = 2.25P \]
So it becomes \( 2\tfrac{1}{4} \) times itself. Under simple interest the multiple grows linearly with time, so ten years gives \( \tfrac{10}{8} \) of the interest, not of the amount.
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