Question

At what percent per annum simple interest will double a sum of money in 12 years?

• A. $8\frac{1}{3}\%$
• B. $24\%$
• C. $\frac{25}{4}\%$
• D. $8.25\%$

Answer 1

The correct option is A $8\frac{1}{3}\%$

When an amount doubles itself, then the Rate of interest $=\frac{100}{Time}$
Time=12 Years
$\therefore$Rate of interest$=\frac{100}{12}=8\frac{1}{3}$%