A sum of money doubles itself in 12 yr if invested at simple interest. What is therate of interest allowed on the investment?

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RRB GG Exam (Bhopal) 2009 click here to view all questions

A sum of money doubles itself in 12 yr if invested at simple interest. What is the rate of interest allowed on the investment?

A0.095

B0.0825

C0.085

D0.0833

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Correct answer is: 0.0833 Explanation: Let, Principal, P = Rs. 100; Amount, A = Rs. 200; Time = 12 years; Interest = Rs. 100; Rate of interest $=\frac{\text{Total Interest}}{\text{Given Time}}$ $= \frac{100}{12}$ $= 8.33$ $\text{rate of interest in percentage}$ $=\frac{8.33}{100}$ $= 0.0833$ rahul ? answered Jan 11 '2020 at 17:15 All Comments

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