At what rate percent per annum, the sum of money gets doubled in 16 years under simple interest?
A. (27/4)% p.a
B. (25/4)% p.a
C. (29/4)% p.a
D. (23/4)% p.a
Answer:B
At what rate percent per annum, the sum of money gets doubled in 16 years under simple interest?
A. (27/4)% p.a B. (25/4)% p.a C. (29/4)% p.a D. (23/4)% p.a
Explanation: Let the principal amount be P, then the simple interest would be 2P.