A sum of money doubles in 14 years. In how many years would it triple if the rate of interest is considered as simple?
A25 years
B28 years ✓ Correct
C18 years
D23 years
Correct answer: (B) 28 years
Explanation
It triples in 28 years.
Doubling in 14 years means the interest earned equals the principal in 14 years.
Under simple interest the interest grows at a constant rate.
Tripling needs interest equal to twice the principal.
Twice the interest needs twice the time, 2 x 14 = 28.
So the sum triples in 28 years.
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