Answer: D
For a principal amount to double, it means: Principal \((p) = x\) rupees
Interest amount \((I) = x\) rupees
Time \((t) = 6\) years
Rate of interest \((r) =\cfrac{100\times I}{pt}\)
For a principal amount to double, it means: Principal \((p) = x\) rupees
Interest amount \((I) = x\) rupees
Time \((t) = 6\) years
Rate of interest \((r) =\cfrac{100\times I}{pt}\)
\(=\cfrac{100\times x}{x\times 6}\)
\(=16\cfrac{2}{3}\%\)
So, the annual interest rate should be 16\( \frac{2}{3} \)%.