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Numerical Ability
Simple & Compound Interest
At what rate perscent per annum of simple interest, will a sum of money double itself in 12 years?
a. 7 1/2%
b. 8%
c. 9%
d. 8 1/3%
e. None of these
Read Solution (Total 3)
-
- In that case, if principal is P and interest is also P, then
P= P*r*12/100 where r is rate of interest
r = 100/12 = 25/3 % = 8 1/3 % .. option d) - 12 years agoHelpfull: Yes(13) No(10)
- 200=100+(100*12*r)/100
or,r=100/12=8 1/3% - 8 years agoHelpfull: Yes(0) No(0)
- S.I=(PNR)/100
P=initial amount
Here S.I=P
but sum of the amount only double
so
P=(P*N*12)/100
so
N=8 1/3
- 8 years agoHelpfull: Yes(0) No(0)
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