At what rate percent per annum will a sum of money double in 8 years.
Select: A) 12.5% B) 12.9% C) 18.5% D) 11.5% E) 12.3%
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%) 12.5%
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At what rate percent per annum will a sum of money double in 8 years.