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A certain sum of money double itself in 8 years at a simple interest in a firm but trebles itself in 17 years in another firm at simple interest. Which of the two firms pays better interest? And what are the rates?

A.	15.7%	B.	11.7%
C.	12.7%	D.	19.7%

Answer and Explanation

Answer:11.7%

Explanation:
Let the sum invested be Rs x
Firm1:
x +x(8)(r/100) = 2x
r=12.5%
Firms2:
x +x(17)(r/100) = 3x
r=11.7%
the first firm pays better interest

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