Q.If 9999 rupees doubles in ten years at a simple interest rate, then the interest rate is—? (a) 10% (b) 25% (c) 50% (d) 100%
Answer: A
Principal amount (P) = 9999 rupees
Interest amount (I) = 9999 rupees
Time (n) = 10 years

\(\therefore\) Interest rate \((r) = \cfrac{100 \times I}{P \times t} \%\)

\(= \cfrac{100 \times 9999}{9999 \times 10} \%\)

\(= 10\%\)

So, the annual simple interest rate is 10%.
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