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Consider the following statements If a sum of money is lent at simple interest, then the I - money gets doubled in 5 years if the rate of interest is 16 2/3 II - money gets doubled in 5 years if the rate of interest is 20%. III - money becomes four times in 10 years if it gets doubled in 5 years.

Correct Answer: II alone is correct

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Math MCQ: Consider the following statements If a sum of money is lent at simple interest, then the I - money gets doubled in 5 years if the rate of interest is 16 2/3 II - money gets doubled in 5 years if the rate of interest is 20%. III - money becomes four times in 10 years if it gets doubled in 5 years. | Extra Education