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

Answer : B. 20%

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

Leave a Reply

Your email address will not be published. Required fields are marked *