AP ICET 2015 Paper

Question : 110 of 200

Marks: +1, -0

The rate of simple interest per annum that makes some amount of money double in 12 years is

Solution:

When a sum becomes double, then
I = P
We have for simple interest,

I=\Prt/100

⇒P={{\Pr}×12}/{100}

⇒r={100}/{12}={25}/{3}=8{1}/{3}%

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