Question

a sum of money becomes 4 by 3 of itself in 6 years at a certain rate of simple interest. Find the rate of interest

Answer 1

let the principal be 100
interest is 4/3*100=133.33
time is 6 yrs
i=ptr/100
133.33=100*6*r/100
1333/100*6=r
1333/600=r
r=2.2%
this answer may be correct .i am not very sure about it