Question

At what rate percent per annum simple interest will a sum double itself in 8 years?
a) 8%
c) 12%
b) 10%
d) 12.5%​

Answer 1

Answer:

12%

Step-by-step explanation:

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Answer 2

Answer :-

Let the sum be x

It doubles itself in 8 years.

So, Amount = 2x

Simple interest = Amount - Sum

SI = 2x - x

SI = x

Now we have,

• Simple interest = x
• Sum = x
• Time = 8 years

Simple interest = P × R × T / 100

→ x = x × R × 8 / 100

→ x = 8Rx / 100

→ x / x = 8R / 100

→ 1 = 8R / 100

→ 8R = 100

→ R = 100 / 8

→ R = 12.5

Rate of interest = 12.5 % p.a.