In what time a sum of money double itself at 3% per annum simple interest?
Options:
(A) 33 1/4%
(B) 33 1/3%
(C) 33 7/3%
(D) 33 5/3%
(E) 33 1/7% Let's think first. Stream of consciousness:
P = (P*3*R)/100
R = 33 1/3%
So, the answer is (B).