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Q.
At what rate percent per annum will a sum of money double in 8 years.
A.
0.125
B.
0.135
C.
0.115
D.
14.5%
View Answer
Correct choice: A
Explanation:
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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