Find Rate of Interest if Money doubles itself in 10 years at Simple Interest

A sum of money doubles itself in 10 years at simple interest. What is the rate of interest?

  1. 10%
  2. 25%
  3. 14%
  4. 12%
Pushpendra Pal Dean Asked on 14th September 2015 in Maths.
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  • 1 Answer(s)

    Answer: (1) 10

    Explanation:-
    Let the money be Rs.X and rate = R%.

    A sum of money doubles itself in 10 years at simple interest.
    Then, Simple Interest = 2 X – X = X

    Formula-
    Simple Interest = Principal x Time x Rate/100

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

    Then, the rate of interest is 10%.

    Hence, the answer is (1) 10%.

    Anurag Mishra Professor Answered on 14th September 2015.
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