Mr. Y gave some money at simple interest and at the end of 10 years, got back twice the sum. The percent per annum is
2%
4%
5%
10%
A
10%
B
5%
C
2%
D
4%
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Solution
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P = 100 becomes 200 in 10 years.
SI = 100
R = 100(SI)(P)(N)=100×100100×10=10%
Hence, Option D is correct.
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