Question
A sum of money doubles itself in 5 years at simple
interest. What is the rate of interest per annum?Solution
Let the principal be P, and the rate be R%. The amount after 5 years = 2P. Using the formula for simple interest: Amount = P(1 + rt/100), 2P = P(1 + 5R/100). Solving, we get R = 20%. Correct Option: d) 20%
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