Multiple Choice Questions on At what rate per cent per annum calculated in simple interest will a sum of money double in 10 year ........ for Mathematics - All Exams Preparation

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Multiple Choice Questions

At what rate per cent per annum calculated in simple interest will a sum of money double in 10 year ........

Quant (SSC) Simple Interest
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    At what rate per cent per annum calculated in simple interest will a sum of money double in 10 year?

    10%

    Correct Answer

    12%

    Incorrect Answer

    12.5%

    Incorrect Answer

    13.5%

    Incorrect Answer
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    Explanation:

    Let principal = x, then amount = 2x
    ∴ SI = A – P = 2x – x = x
    ? SI = P × R × T /100
    ⇒ x = x × r × 10 /100
    ⇒ ∴  r = 10%

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