Menu
Home / Arithmetic Aptitude / Simple Interest :: Discussion

Discussion :: Simple Interest

  1. At what rate of interest is an amount doubled in two years, when compounded annually?
    2. A.
    30%
    B.
    41.4%
    C.
    45.2%
    D.
    73.2%
    E.
    None of these

    View Answer

    Workspace

    View Answer

    Answer : Option B

    Explanation :

    Let the rate of interest be r. The amount gets doubled in two years => P(1 + r/100)2 = 2p => 1 + r/100 = √2 => r/100 = √2 - 1 = 0.414 => r = 100(0.414) = 41.4%

Write your comments here:

Be The First To Comment