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If a sum of money doubles itself in 8 years, then the interest rate in percentage is
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8 1 % 2 - 10%
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10 1 % 2 -
12 1 % 2
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Correct Option: D
Let principal be Rs. p.
From question ,
∴ Amount = Rs. 2p
Simple Interest = Amount - Principal = Rs. (2p – p) = Rs. p
| ∴ Rate = | |
| Principal × Time |
| Rate = | |
| p × 8 |
| = | |
| 2 |
| Rate = 12 | % per annum | |
| 2 |
