Simple Interest Practice Test 2

Question : 14 of 40

Marks: +1, -0

In what time will a sum of money double itself at 12.5% per annum simple interest?

Solution:

Let the sum of money = Rs 100
SI = Rs 100
Rate of interest = 12.5%
Time = T

SI={P×R×T}/100

⇒100={100×12.5/100×T}

⇒T=100/12.5=8\years

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