At simple interest, a sum doubles after 20 years. The rate of interest per annum is

Question

Question

This question was previously asked in

HSSC JE Civil 11 April 2018 Shift 2

Answer 1

Given:

A sum of money doubles itself in 20 years.

Concept Used:

Simple Interest, SI =

Calculation: Let's assume sum of money = P

So, Simple interest = P ( Because P + P =2P in 20 years)

⇒ P =

⇒ 20 R = 100

⇒ R = 5%

∴ A sum of money doubles itself in 20 years in simple interest at 5% interest rate.