Question

    A certain sum of money will be doubled in 2 years at the

    rate of simple interest percent per annum is:
    A 72% Correct Answer Incorrect Answer
    B 65% Correct Answer Incorrect Answer
    C 50% Correct Answer Incorrect Answer
    D 44% Correct Answer Incorrect Answer

    Solution

    SI = (P × R × T)/100 Amount, (A) = P + SI Let P be the principal. SI = 2P – P = P ⇒ P = (P × R × T)/100 ⇒ P = (P × R × 2)/100 ⇒ R = 100/2 = 50%

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