CUET Preparation Today
A sum of money becomes double of itself in 50 months when invested on simple interest. What is the rate of interest per annum? |
26% 25% 20% 24% |
24% |
Time = 50 months Let sum = P and Amount = 2P By using formula , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) P = \(\frac{P × R × 50 }{100 × 12 }\) R = 24% |
