Question Details

Detailed explanation and options for the selected question.

If a sum of money doubles itself in 5 years at simple interest, what is the annual rate of interest?

A. 10%
B. 15%
C. 20%
D. 25%

Explanation:

Explanation: Simple Interest = Principal. Rate = 100 × SI / (P × T) = 100 × P / (P × 5) = 20%. Other options are incorrect calculations.