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Q.
An amount doubles itself in 15 years. what is the rate of interest ?
A.
0.0785
B.
9.41%
C.
6.66 %
D.
4.21 %
View Answer
Correct choice: C
Explanation:
Let the principle be Rs. P As the amount double itself the interest is Rs. P too So P = P x r x 15/100 => r = 100/15 = 20/3 % = 6.66 %.
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