Maths / Comparing Quantities / Simple Interest

QUESTION
 

At what rate percent by simple interest, will a sum of money double itself in 5 years 4 months?

OPTIONS
A. 

18.05%

B. 

19.05%

C. 

18.50%

D. 

18.75%

Right Option : D

EXPLANATION
Explain TypeExplanation Content
Text

Let P = Rs x

Amount A = Rs 2x

therefore S.I.=A  -  P = Rs 2x - Rsx = Rsx

T=5 Years 4 months =5frac{4}{12} Years =5frac{1}{3} Years=frac{16}{3} Years

Let R Be the rate percent per annum.

Using R=frac{S.I.X100}{PXT},We get R =frac{xX100}{16}=frac{300}{16}=18.75.

Hence required rate=18.75% p.a.

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