Question

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

Answer 1

Question:

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

Answer :

$\sf\pink{Given}$

• Sum of money becomes 6 time of itself .

• In 3 years .

• At simple interest .

$\sf\pink{To\:Find}$

• Find the rate of interest = ?

Explanation :

• Let 100 be the sum of money .

• Therefore ,100 becomes 6 times itself that is 600 in 3 years.

Now , here ,

• 100 is principal.

• 600 is the amount.

• simple interest = ?

Simple interest = amount - principal

$\longrightarrow\sf{600 - 100}$

$\longrightarrow\sf\green{500}$

• simple Interest = 500

Rate = SI × 100/ N × P

• SI is simple interest that is 500.

• N is number of years that is 3 .

• P is principal that is 100 .

$\longrightarrow\sf{500×100/3×100}$

$\longrightarrow\sf{500/3}$

$\longrightarrow\sf{166.6}$