Correct Answer - Option 2 : 48 years
Given:
Amount = 4 times of principal
Rate of interest = \(6\frac{1}{4}%\)% p.a.
Formula Used:
Simple interest = Amount - Principal
Simple interest = Principal × Time × Rate of interest/100
Calculation:
Let assume the principal be x
Amount = 4x
Simple interest = Amount - Principal
⇒ Simple interest = 4x - x = 3x
Simple interest = Principal × Time × Rate of interest/100
⇒ 3x = x × Time × (25/4)/100
∴ Time = 48 years
The correct option is 2 i.e. 48 years
