At what rate percent of simple interest will a sum of money double itself in 12 years? · ABC26GN4046
Subject: General Aptitude · Chapter: Simple Interest
At what rate percent of simple interest will a sum of money double itself in 12 years?
(a)$8 \frac{1}{4} \%$
(b)$8 \frac{1}{3} \%$
(c)$8 \frac{1}{2} \%$
(d)$9 \frac{1}{2} \%$
Answer
Explanation
Let $\operatorname{sum}=₹ x$. Then, S.I. $=₹ x$. $\therefore \quad$ Rate $=\left(\frac{100 \times \text { S.I. }}{P \times T}\right)=\left(\frac{100 \times x}{x \times 12}\right) \%=\frac{25}{3} \%=8 \frac{1}{3} \%$.
Explanation as extracted from the printed page; notation may be imperfect.
Study loop for Simple Interest
· Browse this chapter in the app