A Sum Becomes its Double in 10 Years. Find the Annual Rate of simple Interest.

  1. 1%
  2. 5%
  3. 10%
  4. 20%
Desire Adnan Default Asked on 2nd August 2015 in Maths.
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1 Answer(s)

Answer: (3) 10 %

Explanation:-
Let the principal is Rs.X and rate = R
Then, Amount = 2 X
Simple interest = 2 X – X = X

Formula-
Simple Interest = P x R x T/100
Where, P = principal , R = rate, & T = time.

Then,
X = X x R x 10/100
1 = R / 10
R = 10 % .

Then, the rate is 10 %.

Hence, the answer is (3) 10 %.

Anurag Mishra Professor Answered on 7th August 2015.
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