At what rate percent per annum will a sum of money double in 16 years.	Choose the correct option:
A) 2.45%
B) 5.62%
C) 5.35%
D) 6.9%
E) 6.25%
Let principal = P   then S.I. = P   T= 16yrs   Rate = (100*P)/(p*16) = 25/4= 
<gadget id="calculator">25/4</gadget>
<output>25/4 = around 6.25</output>
6.25% p.a.   Answer is 6.25%
<result>E</result>
At what rate percent per annum will a sum of money double in 16 years.