Give a quick stream of consciousness before answering the following question. At what rate percent on simple interest will a sum of money double itself in 60 years?\nOptions:\n(A) 3 1/3%\n(B) 3 1/9%\n(C) 1 2/3%\n(D) 3 2/3%\n(E) 3 6/3%
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P = (P*60*R)/100\nR = 1 2/3%
The answer: (C).
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