Question

A sum of money doubles it self in 5 years at a simple interest. Then what is the rate of interest ?

• A. 10%
• B. 50%
• C. 12%
• D. 20%

Answer 1

Answer:

D. 20%

• Formula: $\text{Rate } (R) = \frac{(\text{Times } - 1) \times 100}{\text{Time } (T)}$

• Calculation: $R = \frac{(2 - 1) \times 100}{5}$

• Result: $R = \frac{100}{5} = 20\%$