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At what rate percent per annum will a sum of money double in 8 years.

A.12.5%
B.13.5%
C.11.5%
D.14.5%
Answer and Feedback
Answer:A
Feedback:Let principal = P, Then, S.I.= P and Time = 8 years
We know that S.I. = PTR/100
Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum

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