At what rate of simple interest a sum of Rs. 2017 would amount to Rs. 4034 in 8 years?

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13 Nov 2017 Simple Interest

At what rate of simple interest a sum of Rs. 2017 would amount to Rs. 4034 in 8 years?

OPtion

1) 10 %
2) 10.5 %
3) 11 %
4) 11.5 %
5) 12 %
6) 12.75 %
7) 13 %
8) 12.5 %
9) 14 %
10)None of these

Solution

SI = PRT/100
4034 - 2017 = 2017*R*8/100
=> R = 2017 * 100/ (2017*8)
=> R = 12.5
Option 8)

Correct Option: 8 Best Solution (7)