The simple interest earned on a certain amount is double the amount when invested for 10 years. What is the interest rate being offered ?



The simple interest earned on a certain amount is double the amount when invested for 10 years. What is the interest rate being offered ?

A. 40%

B. 20%

C. 15%

D. 12%

Answer : B. 20%


Explanation:

    Interest Earned = 2 Times
    Invested year = 10
    Interest rate = 2 * 10 = 20


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