Question
At what rate percent per annum will a sum of money double in 16 years.
At what rate percent per annum will a sum of money double in 16 years.
Answer: Option B
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Let principal = P. Then, S.l. = P and T = 16 yrs.
Rate = (100 x P)/(P*16)% = 6 1/4% p.a.
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