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    At what rate per cent will a sum of money double itself in 30 years?
    Question

    At what rate per cent will a sum of money double itself in 30 years?

    A.

    3%

    B.

    3 1/4 %

    C.

    3 1/3 %

    D.

    3 1/2 %

    Correct option is C

    Given: 

    Sum of money double itself in 30 years.

    Solution: 

    Let the sum be xP=x, SI=x, t=30 yearsAs we know,SI=P×r×t100x=x×r×30100r=10030r=313%\text{Let the sum be } x \\P = x, \, SI = x, \, t = 30 \, \text{years} \\\text{As we know,} \\SI = \frac{P \times r \times t}{100} \\x = \frac{x \times r \times 30}{100} \\r = \frac{100}{30} \\r = 3 \frac{1}{3}\%​​

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