-
If a sum of money doubles itself in 8 years, then the interest rate in percentage is
-
-
8 1 % 2 - 10%
-
10 1 % 2 -
12 1 % 2
-
Correct Option: D
Let principal be Rs. p.
From question ,
∴ Amount = Rs. 2p
Simple Interest = Amount - Principal = Rs. (2p – p) = Rs. p
∴ Rate = | |
Principal × Time |
Rate = | |
p × 8 |
= | |
2 |
Rate = 12 | % per annum | |
2 |