McqMate
| Q. |
A sum will be double itself at a simple interest p.a. in 8 years. The simple interest is |
| A. | 10% |
| B. | 10.5% |
| C. | 12% |
| D. | 12.5% |
| Answer» D. 12.5% | |
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Fundamentals of Business MathematicsDiscussion
mdmuzaffar uddin
1 year ago
Let the sum of money that's principal be x.
Time=8 years
Amount after 8 years becomes double=2x
Therefore,
Simple interest=Amount -principal=2x−x=x
Rate per annum =
P×T
S.I×100
=
x×8
x×100
=
8
100
=
2
25
=12.5%
Then,
We get interest of 8years is 12.5%
Time=8 years
Amount after 8 years becomes double=2x
Therefore,
Simple interest=Amount -principal=2x−x=x
Rate per annum =
P×T
S.I×100
=
x×8
x×100
=
8
100
=
2
25
=12.5%
Then,
We get interest of 8years is 12.5%
0
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