Quantitative Aptitude Interest Simple Interest

How long will it take a sum of money invested at 6% p.a. on simple interest to increase its value by 50%?

1
8 years
2
\(8 \frac{1}{3} \ \text{years}\)
3
3 years
4
\(3 \frac{1}{8} \ \text{years}\)
5
Answer not known

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