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 –

\(\begin{array}{l} frac{(P * R * T)}{100}\end{array} \)

Amount = P +

\(\begin{array}{l} frac{(P * R * T)}{100}\end{array} \)

= 2P = P +

\(\begin{array}{l} frac{(P * R * 8)}{100}\end{array} \)

= P =

\(\begin{array}{l} frac{(P * R * 8)}{100}\end{array} \)

= R =

\(\begin{array}{l} frac{(100)}{8}\end{array} \)

= R = 12.5%

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

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