In how many years will a sum of money double itself at 5%

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In how many years will a sum of money double itself at 5% rate of interest?

1. 18 years
2. 20 years
3. 22 years
4. 15 years

Correct Option: B

A sum doubles itself when amount of interest becomes equal to the principal.
So, I = P
Given, R = 5%
We can find the required answer with the help of given formula ,

Time =	100I
	PR

On substitution we get,

T =	100 × P
	P × R

T = 20 years