At what rate of simple interest certain amount will double itself in 8 years?

(a) 12%
(b) 12 ½%
(c) 13%
(d) 15%

Anurag Mishra Professor Asked on 30th June 2016 in Maths.
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  • 1 Answer(s)

    Answer: (b) 12 1/2% 

    Let the principal be X. 
    Then, Simple Interest = X

    According to the question, 
    Rate of Interest = (100 x X)/(X x 8) 
     = 12.5%

    Hence, the correct answer is option (b) 12 1/2%. 

    Anurag Mishra Professor Answered on 1st July 2016.
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