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At what percent of simple interest will a sum of money double itself in 15 years?
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6 1 % 3 -
6 2 % 3 -
6 1 % 2 - 6%
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Correct Option: B
Let principal be Rs. p.
∴ Amount = Rs. 2p
∴ Simple Interest = Amount - Principal = Rs. (2p – p) = Rs. p
| ∴ Rate = | |
| Principal × Time |
| Rate = | = | ||
| p × 15 | 3 |
| Rate = 6 | % per annum | |
| 3 |
