A sum of money doubles itself in 10 years at simple interest. The rate of interest is MCQ with Answer and Explanation

Question Report Error

A sum of money doubles itself in 10 years at simple interest. The rate of interest is

A. 15%

B. 8%

C. 10%

D. 12%

Answer: Option C

Solution (By JKExamLibrary)

SI = Principal. R = (100 × 100)/(P × 10) × P = 10%.

This question belongs to: Maths Simple Interest

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Practice More Simple Interest Questions

Question #1 Report Error

The principal that gives Rs. 3528000 interest in 9 years at 18% SI is

A. Rs. 2178778

B. Rs. 2177778

C. Rs. 2175778

D. Rs. 2176778

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Correct Answer: Option B

Explanation:
P = (3528000 × 100)/(18 × 9) = 2177778 approx adjusted.

This question belongs to: Maths Simple Interest

Question #2 Report Error

Simple interest on Rs. 4194000 for 3 years at 98% per annum is

A. Rs. 12328960

B. Rs. 12328360

C. Rs. 12328560

D. Rs. 12328760

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
SI = (4194000 × 98 × 3)/100 = 12328560.

This question belongs to: Maths Simple Interest

Question #3 Report Error

The rate at which Rs. 2178000 amounts to Rs. 2831400 in 3 years is

A. 8%

B. 9%

C. 10%

D. 12%

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
SI = 653400. R = (653400 × 100)/(2178000 × 3) = 10%.

This question belongs to: Maths Simple Interest

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