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      Question

      A sum doubles in 20 years at simple interest. What is

      the rate of interest?
      A 5% per annum Correct Answer Incorrect Answer
      B 8% per annum Correct Answer Incorrect Answer
      C 5.5% per annum Correct Answer Incorrect Answer
      D 8.5% per annum Correct Answer Incorrect Answer

      Solution

      Let the original amount = ₹100

      Then after 20 years, it becomes ₹200

      So, interest = ₹100
      SI = (P × R × T)/100


      100 = (100 × R × 20)/100


      100 = 20R/100


      R = 100/20 = 5

      Rate = 5% per year

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