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Q.

In simple interest, at what rate percent per annum will a sum of money double in 8 years?


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a

12.5%

b

10.5%

c

12.0%

d

15.5% 

answer is A.

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Detailed Solution

Concept- BY the help of simple interest we can find out the interest to be paid at that time for loan or certain amount of money. Here we need to find out the rate percent per annum for the sum of money to be doubled in 8 years.
 {"mathml":"<math class="image_resized" style="width:229px;height:348px"><span style="font-family:Hence, the correct answer is option 1.
 
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In simple interest, at what rate percent per annum will a sum of money double in 8 years?