Question

4
The simple interest on a certain sum of money is 35th of the sum and
the rate percent equals the number of years. Find the rate of interest.
fotorast​

Answer 1

Rate of interest is 1.69%

Step-by-step explanation:

Let the sum be Rs. P

Then interest, I = Rs. P/35

Let the rate of simple interest be r%

Then the time of investment, t = r years

We know that,

I = Ptr/100

or, P/35 = P * r * r * 1/100

or, r² = 100/35, since P is non-zero

or, r² = 20/7

or, r = 1.69

Therefore the rate of interest is 1.69%