A sum becomes its double in 10 years. Find the annual rate of simple interest.
A. 8% B. 5% C. 10% D. 20% Answer: Option CShow Answer
Solution(By Apex Team)
Let Sum be Rs. x and Let S.I. = Rs. x
Time = 10 years.
$\begin{array}{l}
\therefore \text { Rate }=\frac{\text { S.I. } \times 100}{\text { Principal } \times \text { Time }} \\
=\frac{x \times 100}{x \times 10} \\
=10 \% \text { per annum. }
\end{array}$
