Mathematics · Simple Interest
Read the given information and statements carefully and decide which option is True with respect to the information. If a sum of money is lent at simple interest, then the: Statements: 1. Money gets doubled in 6 years if the rate of interest is 16%. 2. Money gets doubled in 5 years if the rate of interest is 18%.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both statements 1 and 2 are correct
- 2Both statements 1 and 2 are incorrect✓
- 3Only statement 1 is correct
- 4Only statement 2 is correct
Correct answer
Both statements 1 and 2 are incorrect
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