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Discussion :: Simple Interest

  1. At what rate percent of simple interest will a sum of money double itself in 12 years?
    2. A.
    8 1/4 %
    B.
    8 1/3 %
    C.
    8 1/2 %
    D.
    9 1/2 %

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    Answer : Option B

    Explanation :

    Let sum = x. Then, S.I. = x.

    Rate = (100 * S.I.) / (P * T) = (100 * x) / (x * 12)

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