At a rate of return of 4 per year how many years will it tak

At a rate of return of 4% per year, how many years will it take to double an investment of $10,000? Link to Interest Factor tables 9 O 18 O 12

Solution

Rate of interest=4%

P=10,000

Amount=20,000

Simple interest=20,000-10000

=10,000

Simple interest=(P*T*R)/100

Time=SI*100/P*R

=10000*100/10,000*4

=25 years

Since no option contain 25 years hence no given option is correct.

Correct answer 25 years