Quantitative Aptitude • Simple & Compound InterestEasy
At what rate of simple interest per year will a sum of money double itself in 8 years?
A. 25%
B. 8%
C. 6.25%
D. 12.5%✓ Correct Answer
💡 Solution & Explanation
To double, the interest must equal the principal, which is 100% of it. That 100% is earned over 8 years, so the yearly rate = 100 ÷ 8 = 12.5%. Check with ₹100: 12.5% for 8 years gives ₹100 of interest, making ₹200.
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