Question Details

Detailed explanation and options for the selected question.

A sum of money doubles itself in 5 years at simple interest. What is the rate of interest?

A. 10%
B. 15%
C. 20%
D. 25%

Explanation:

If the sum doubles, SI = P over 5 years. Rate = SI/(P×T) × 100 = 20%. Other options are incorrect.

Related Topics

How to Graph Linear Equations (Slope-Intercept Form)

Revision Notes

How to Decompose a Vector into Components

Revision Notes

How to Convert Repeating Decimals to Fractions

Revision Notes

How to Graph Hyperbolic Functions (sinh, cosh)

Revision Notes

How to Add and Subtract Matrices

Revision Notes

How to Calculate the Area of a Triangle

Revision Notes

How to Calculate Z-Scores (Standardized Scores)

Revision Notes

How to Interpret Box-and-Whisker Plots

Revision Notes

How to Use the Law of Sines in Any Triangle

Revision Notes

How to Convert Between Different Number Bases

Revision Notes