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- A sum of money doubles itself in 4 years. What is the rate of interest?
Question 1:
A sum of money doubles itself in 4 years. What is the rate of interest? A. 20%
B. 22%
C. 25%
Feedback Let the principal be Rs. p, rate of interest be r and time given, t = 4.
Amount = 2p (since the money gets doubled), interest earned = p
Which means S.I = p, we know that S.I = (p x t x r) / 100 =>p = (p x 4 x r) / 100 => 4r/100 = 1 => r/25 =1 => r = 25
The rate of interest is 25%
Amount = 2p (since the money gets doubled), interest earned = p
Which means S.I = p, we know that S.I = (p x t x r) / 100 =>p = (p x 4 x r) / 100 => 4r/100 = 1 => r/25 =1 => r = 25
The rate of interest is 25%
D. 30%
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