Question:
A sum doubles itself in 8 years at simple interest. The annual rate of interest is:
A sum doubles itself in 8 years at simple interest. The annual rate of interest is:
Updated On: Jul 10, 2026
- 12.5%
- 10%
- 8%
- 15%
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The Correct Option is A
Solution and Explanation
Step 1: Doubling means \(SI = P\). So \(P = \dfrac{P\cdot R\cdot 8}{100}\).
Step 2: \(100 = 8R \Rightarrow R = 12.5\%\).
Step 2: \(100 = 8R \Rightarrow R = 12.5\%\).
Quick Tip: To multiply a sum \(n\) times by SI, interest earned \(=(n-1)P\).
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