Quantitative Aptitude • Simple & Compound InterestEasy
At what rate of simple interest per year will a sum of money double itself in 16 years?
A. 16%
B. 3.13%
C. 6.25%✓ Correct Answer
D. 12.5%
💡 Solution & Explanation
To double, the interest must equal the principal, which is 100% of it. That 100% is earned over 16 years, so the yearly rate = 100 ÷ 16 = 6.25%. Check with ₹100: 6.25% for 16 years gives ₹100 of interest, making ₹200.
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