Question

A sum of money is deposited at a bank at a rate of 12½ annum simple interest. In how many years would the deposited money be doubled

Answer 1

It would take 10 years for the given sum of money be doubled at the given simple interest rate.

Explanation:

A 10% interest would be added to the the principal amount after each year. So the interest would reach 100% i.e. equal to the principal amount in 10 years.