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  1. If a certain sum of money becomes double at simple interest in 12 yr. What would be the rate of interest per annum ?
    1. 81/3%
    2. 10%
    3. 12%
    4. 14%
Correct Option: A

Let the amount be P, then amount after 12 yr = 2 P
SI = 2P - P = P
SI = (P x R x T)/ 100
P = (P x R x 12)/ 100
⇒ R = 100/12 = 81/3%



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