Question

At what rate per cent per annum will a sum double itself in 5

years if interest is simple

(A) 25% (B) 20% (C) 10% (D) 12.5%​

Answer 1

Answer:

B) 20%

Explanation:

Total Amount A is,

A=P ( 1+ r×t /100)

where P =Principal

r = Rate of Interest

t = Time (in years) 5yrs (given)

Afrer 5 years, Sum of the money will doubles itself, i.e., A =2P

Now apply the formula,

A = P (1 + rt /100)

2P = P (1 +5r/100)

2 = 1 +5r /100

2-1 = 5r/100

1 = 5r/100

:. r = 100/5

20%p.a.

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