At what rate percent per annum will a sum of money double in 8 years.	Choose one.
A) 12.5%
B) 13.5%
C) 11.5%
D) 14.5%
E) 24.5%
Explanation:   Let principal = P, Then, S.I.=P and Time=8 years   Rate = [(100 x P)/ (P x 8)]% = 12.5% per annum.   12.5%nswer: 12.5%
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At what rate percent per annum will a sum of money double in 8 years.