At what rate of interest per annum will a sum double itself in 8 years?

25 %

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6 \frac{1}{4} %

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12 \frac{1}{2} %

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Solution

The correct option is B $12 \frac{1}{2} %$
T = 8 years; N = 2; R = ?
R $\times T$ = 100 $\times (N - 1)$

R $\times 8$ = 100 $\times (2 - 1)$

$R = \frac{100}{8} = 12 \frac{1}{2} %$

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At what rate of interest per annum will a sum double itself in 8 years?

The correct option is B 1212%T = 8 years; N = 2; R = ?R ×T = 100 ×(N−1)R ×8= 100 ×(2−1)R=1008=1212%

The correct option is B $12 \frac{1}{2} %$
T = 8 years; N = 2; R = ?
R $\times T$ = 100 $\times (N - 1)$

R $\times 8$ = 100 $\times (2 - 1)$

$R = \frac{100}{8} = 12 \frac{1}{2} %$