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Discussion

  1. At what rate percent per annum will a sum of money double in 8 yr?
    1. 12 %
    2. 12.5 %
    3. 13 %
    4. 15 %
  1. Correct Option: B

    Let Sum = P, Then SI=P
    As Amount A = 2 × P
    where , P = Principal

    Rate R = (100 × SI)/(P × T)
    = (100 × P)/(P × 8) %
    = 12.5 %
    where , SI= Simple Interest
    T= Time


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