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 =$5\frac{4}{12}$ Years =$5\frac{1}{3}$ 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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