Simple Interest

Quant (SSC)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

At what rate percent per annum will a sum of money double in 16 years ?

6 1/4% p.a.

2 3/5% p.a.

3 2/7% p.a.

5 3/7% p.a.

Let the principal be P,
Amount = 2P and S.I = 2P – P = P
Rate = SI × 100 /Principal × Time
Rate = P × 100 /P × 16
= 25/4 = 6 1/4% p.a.