Question

A financier lent out a certain sum of
money to a person under simple interest
at the rate of 4k% p.a, where 'k' is the
number of years,(i.e. in the first year, the
rate is 4%, in the second year, it is 8% and
in the third year, it is 12%, and so on. In
how many years will his money get
doubled?
(1) 6
(2)6 2/5
(3) 6 4/7
(4) 7
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Answer 1

The right answer is 6 .

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