A: Money invested at 6% p.a. S.I. will increase by 60 / 100 * 6 / 100 = 10 % in one year. So, it will take 10 years to increase the value by 60%. The answer is (C).
Answer the following multiple choice question with options (a), (b), (c), (d), (e) by reasoning step-by-step.
Q:How long will it take a sum of money invested at 6 % p.a. S.I. to increase its value by 60%? Answer Choices: A)11 years B)12 years C)10 years D)15 years E)8 years