At What Rate Percent Per Annum Will A Sum Of Money Double In 8 Years. (A) 12.5% (B) 13.5% (C) 11.5% (D) 14.5%

The answer is (B) 12.5%

According to Simple interest formule

SI – \( frac{(P * R * T)}{100}\)

Amount = P + \( frac{(P * R * T)}{100}\)

= 2P = P + \( frac{(P * R * 8)}{100}\)

= P = \( frac{(P * R * 8)}{100}\)

= R = \( frac{(100)}{8}\)

= R = 12.5%

Therefore, the rate of interest to double money in 8 years will be 12.5% per annum.

Explore more such questions and answers at BYJU’S.

Was this answer helpful?

  
   

0 (0)

Upvote (0)

Choose An Option That Best Describes Your Problem

Thank you. Your Feedback will Help us Serve you better.

Leave a Comment

Your Mobile number and Email id will not be published. Required fields are marked *

*

*

BOOK

Free Class

Ask
Question