Question
If a sum of money at simple interest doubles in 12 years, the rate of interest per annum is
Answer: Option D
Answer: (d)Let the principal be x.Amount = 2xInterest = (2x - x) = xRate = ${S.I. × 100}/\text"Principal × Time"$= ${x × 100}/{x × 12} = 25/3 = 8{1}/3%$Using Rule 3,R = ${(2 - 1)}/12 × 100%$R = $25/3% = 8{1}/3$%
Was this answer helpful ?
Answer: (d)Let the principal be x.Amount = 2xInterest = (2x - x) = xRate = ${S.I. × 100}/\text"Principal × Time"$= ${x × 100}/{x × 12} = 25/3 = 8{1}/3%$Using Rule 3,R = ${(2 - 1)}/12 × 100%$R = $25/3% = 8{1}/3$%
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution