Pinnu has Rs. 8000. He gives this money to Harshit on simple interest and after 5 years received the double amount. If the interest rate is 4% more than the previous, in how many years this amount will be doubled?
1
\(6\frac{1}{4}\ {\text{years}}\)
2
\(3\frac{1}{3}\ {\text{years}}\)
3
\(5\frac{1}{6}\ {\text{years}}\)
4
\(4\frac{1}{6}\ {\text{years}}\)
5
\(4\frac{5}{6}\ {\text{years}}\)