Postal or Sorting Assistants Model Paper 2 With Solutions

Question : 12 of 100

Marks: +1, -0

If a certain sum of money becomes double at simple interest in 12 years, what would be the rate of interest per annum ?

Solution:

(a) Let the principal be P. then amount after 12 years = 2P
=> SI = (2P-P) = P
Now.

I ={p×r×t}/100⇒p= {p×r×12}/100

r=100/12=25/3=8 1/3 %

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