Multiple Choice Questions on At what rate percent per annum will a sum of money double in 8 years ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

At what rate percent per annum will a sum of money double in 8 years ........

Quant (SSC) Simple Interest
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    At what rate percent per annum will a sum of money double in 8 years.

    12.5%

    Correct Answer

    13.5%

    Incorrect Answer

    1.5%

    Incorrect Answer

    14.5%

    Incorrect Answer
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    Explanation:

    Let principal = P, Then, S.I.= P and Time = 8 years
    We know that S.I. = PTR/100
    Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.

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