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The simple interest on a certain sum of money is 3/8 of the sum in 11/4 years .Find the rate percent changed
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Answer:
Let the sum of Money = P
SI = 3/8 P
time = 25/4 years
R = ?
SI = PTR/100
⇒ 3/8 P = P × 25/4 × R / 100
⇒ 3/8 = 25R/400
⇒ R = (3×400)/(8×25)
⇒ R = 6%
Rate is 6%.
Step-by-step explanation:
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