Question

9. If the simple interest on a sum of money is 1/3 of the sum in 3 years, find the rate of interest per annum​

Answer 1

Answer:

11.11 %

Step-by-step explanation:

SI = PRT/100

Given,

SI = P/3

T = 3 years

So,

P/3 = P×R×3/100

9R = 100

R = 100/9 = 11.11 %