At what rate percent of simple interest will a sum of money double itself in 12

Question

At what rate percent of simple interest will a sum of money double itself in 12 years?

Options:

A . 8 1/4 %

B . 8 1/3 %

C . 8 1/2 %

D . 9 1/2 %

Answer: Option B

Let sum = x. Then, S.I. = x.
Rate = (100 * S.I.) / (P * T) = (100 * x) / (x * 12)= 25/3 = 8 1/3 %

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