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WBCS Main Examination 2023 — Paper VI: Arithmetic and Test of Reasoning · Question 36 of 200

Q36
ArithmeticSimple & Compound Interest
In how many years will a sum of money double itself at $6\frac{1}{4}$% simple interest per annum?
  1. a.16 years
  2. b.15 years
  3. c.10 years
  4. d.20 years

Answer: (A) 16 years

To double, the simple interest must equal 100% of the principal. At 6·25% a year that takes 100 ÷ 6·25 = 16 years. 15 or 10 years would give only about 94% or 63% interest.

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In how many years will a sum of money double itself at 6\frac{1}{4}… — WBCS Main Examination 2023 Q36 | Prostuti360°