A) 100%
B) 80%
C) 20%
D) 10%
Correct Answer: A
Solution :
Let the principal be Rs. x and the rate of compound interest be r% per annum. Then, \[8x=x{{\left( 1+\frac{r}{100} \right)}^{3}}\]\[\Rightarrow \]\[8={{\left( 1+\frac{r}{100} \right)}^{3}}\] \[\Rightarrow \] \[{{2}^{3}}={{\left( 1+\frac{r}{100} \right)}^{3}}\]\[\Rightarrow \]\[2=1+\frac{r}{100}\] \[\Rightarrow \] \[\frac{r}{100}=1=100%\]
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