Allied & ICAR Exam Bank • ALLIED_1522 MCQ • 1 Mark

Section 8: General Aptitude

Quantitative Aptitude

Subtopic: Numerical Computation

Question Statement:

A sum of money doubles itself in 5 years at simple interest. The rate of interest per annum is:

Options:

  • (A) 20%
  • (B) 15%
  • (C) 25%
  • (D) 18%

Answer Key:

A

Step-by-Step Solution & Explanation

Simple interest = $P$. $SI = P \times R \times T / 100 \implies P = P \times R \times 5 / 100 \implies R = 20\%$.
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