Multiple Choice Questions on An amount doubles itself in 5 years with simple interest What is the rate of interest p c p a ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

An amount doubles itself in 5 years with simple interest What is the rate of interest p c p a ........

Quantitative Aptitude ( CCS) Simple Interest
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     An amount doubles itself in 5 years with simple interest. What is the rate of interest p.c.p.a?

    20

    Correct Answer

    35

    Incorrect Answer

    25

    Incorrect Answer

    Cannot be determined

    Incorrect Answer
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    Explanation:

    Let the Sum be 'x'

    It will become '2x' in 5 years.

    So If P = x  ;  A = 2x   and S.I = A - P = 2x - x = x

    S.I = P*R*T/100

    x = x * R * 5/100

    R = 100/5 = 20 %

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