The rate at which a sum becomes 2 times of itself in 10 years at simple interest is:

Correct option is A

Given:

Time = 10 years

Amount = 2(Principle)

Formula used:

Simple interest =$$\frac{(P×R×T)}{100}$$

where, P= Principle, R= Rate, T= Time

Amount = SI + Principle

Solution:

Amount = $$P + \frac{(P×R×T)}{100}$$​​

=>$$2P= P + \frac{(P×R×10)}{100}$$​​

=>$$P = \frac{(P×R×10)}{100}$$​​

=> R = 10%

Therefore, the rate is 10%.

Hence option (a) is the correct answer.