Question : A sum was doubled with a 12.5% rate of simple interest per annum. Then time taken for that sum to be doubled is:
Option 1: $8\frac{1}{2}$ years
Option 2: 8 years
Option 3: 10 years
Option 4: $12\frac{1}{2}$ years

Question

Question : A sum was doubled with a 12.5% rate of simple interest per annum. Then time taken for that sum to be doubled is:

Option 1: $8\frac{1}{2}$ years

Option 2: 8 years

Option 3: 10 years

Option 4: $12\frac{1}{2}$ years

Team Careers360 · Accepted Answer

Correct Answer: 8 years

Solution : Let the principal be $P$.
Sum = $2P$
Let the time be $T$.
$ herefore$ Simple interest = Amount – Principal = $2P-P=P$
We know, Simple interest = $\frac{ ext{Principal × Rate × Time}}{100}$
⇒ $T=\frac{P×100}{P×12.5}$
⇒ $T=\frac{1000}{125}$
$ herefore T$ = 8 years
Hence, the correct answer is 8 years.

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Question : A sum was doubled with a 12.5% rate of simple interest per annum. Then time taken for that sum to be doubled is:Option 1: 812 yearsOption 2: 8 yearsOption 3: 10 yearsOption 4: 1212 years

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Question : A sum was doubled with a 12.5% rate of simple interest per annum. Then time taken for that sum to be doubled is:
Option 1: $8 \frac{1}{2}$ years
Option 2: 8 years
Option 3: 10 years
Option 4: $12 \frac{1}{2}$ years