alleryA sum of money doubles itself in 8 years at simple interest. The rate per annum is
A10% p.a.
B12% p.a.
C12.5% p.a.
D15% p.a.
Answer & Solution
Correct answer: C. 12.5% p.a.
If doubled, SI equals principal.
P = P x R x 8 / 100, giving R = 100/8 = 12.5%.
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