If a sum of money at simple interest doubles itself in 6 years, it will become four times in
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If a sum of money at simple interest doubles itself in 6 years, it will become four times in
14 years
12 years
18 years
16 years
Simple interest: Amount doubles in 6 years means interest = principal in 6 years. To become 4 times, interest = 3 * principal. Time = 3 * 6 = 18 years.
If a sum of money doubles itself in 6 years, the simple interest earned equals the principal in 6 years. To become four times the original sum, the interest must equal three times the principal. Since one principal amount takes 6 years to accumulate, accumulating three principal amounts takes 3 * 6 = 18 years. The result is 18 years.