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      Question

      A certain sum of money will be doubled in 80 years at

      the rate of simple interest percent per annum is:
      A 4% Correct Answer Incorrect Answer
      B 1.25% Correct Answer Incorrect Answer
      C 5% Correct Answer Incorrect Answer
      D 2% 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 × 80)/100 ⇒ R = 100/80 = 1.25%

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