A sum becomes its double in 10 years. Find the annual rate of simple interest.

A. 8%

B. 5%

C. 10%

D. 20%

Answer: Option C

Solution(By Examveda Team)

  Let Sum be Rs. x and Let S.I. = Rs. x
$$\eqalign{ & {\text{Time}} = 10\,{\text{years}} \cr & \therefore {\text{Rate}} = \frac{{{\text{S}}{\text{.I}}{\text{.}} \times {\text{100}}}}{{{\text{Principal}} \times {\text{Time}}}} \cr & = \frac{{x \times 100}}{{x \times 10}} \cr & = 10\% \,{\text{per}}\,{\text{annum}}{\text{.}} \cr} $$