Simple & Compound Interest · Question 2 · Easy
At what rate of simple interest per annum will a sum double itself in 8 years?
- 10%
- 12.5%
- 12%
- 15%
Answer and explanation
Answer: B. 12.5%
Explanation: Doubling means interest = principal, i.e. 100% in 8 years. Rate = 100/8 = 12.5% per annum.
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