Please answer the following question by reasoning step-by-step.
In what time a sum of money double itself at 3% per annum simple interest?\nOptions:\n(A) 33 1/8%\n(B) 33 1/3%\n(C) 33 3/3%\n(D) 33 1/7%\n(E) 32 1/3%

(B)
P = (P*3*R)/100\nR = 33 1/3%.

Final answer: (B)