At which rate of simple interest does an amount become double in 12 years?

A. $$7\frac{4}{5}\% $$

B. $$8\% $$

C. $$8\frac{1}{3}\% $$

D. $$7\frac{1}{2}\% $$

Answer: Option C

Solution(By Examveda Team)

$$\eqalign{ & 1 = \frac{{1 \times 12 \times r}}{{100}} \cr & r = 8\frac{1}{3}\% \cr} $$