Question

A sum fo money becomes 7/6 of itself in 3 years at a certain rate of simple interest. The rate per annum is

Answer 1

Answer:

r=50/9% per annum

Step-by-step explanation:

let sum is x and rate of interest=r per anum

then interest in 3 years =xr*3/100=3rx/100

total amount=x+3rx/100=7x/6

300x+9rx=350x

300+9r=350

9r=50

r=50/9%