Quantitative Aptitude • Simple & Compound InterestEasy
At what rate of simple interest per year will a sum of money double itself in 10 years?
A. 20%
B. 10%✓ Correct Answer
C. 15%
D. 5%
💡 Solution & Explanation
To double, the interest must equal the principal, which is 100% of it. That 100% is earned over 10 years, so the yearly rate = 100 ÷ 10 = 10%. Check with ₹100: 10% for 10 years gives ₹100 of interest, making ₹200.
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