Mary deposits a certain sum of money in a bank at 16% p.a. simple interest. After how many years will she receive double her amount? Answers
A) 10 years 2 months  B) 12 years 6 months  C) 9 years  D) 8 years  E) 14 years
Solution: simple interest question   12 years 6 months=A[1+ (tr/100)]; where A is principal amount, 12 years 6 months final amount, t time in years and r interest rate   after putting the values 16   3= [1+(16t/100)]   t= 25/2 which is 12 years 6 months   Answer is 12 years 6 months
<result>B</result>
Mary deposits a certain sum of money in a bank at 16% p.a. simple interest. After how many years will she receive double her amount?