If a sum of money doubles itself in 8 years at simple interest, the rate percent per annum is
Let sum = P then Simple Interest = P Using Simple Interest formula: I = Prt r = I P × t r = P P × 8 × 100 = 12.5%
Let sum = P then Simple Interest = P
Using Simple Interest formula: I = Prt
r = I P × t
r = P P × 8 × 100 = 12.5%
1297 MCQ for effective preparation of the test of Interest of Word Problems section.
Read the MCQ statement: If a sum of money doubles itself in 8 years at simple interest, the rate percent per annum is , keenly and apply the method you have learn through the video lessons for Interest to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 211-12978.