Question

a sum of money becomes 7/4 of itself in 6 years at a certain rate of interest find the rate of interest​

Answer 1

Answer:

The rate of interest is 12.5%

Step-by-step explanation:

Let us say that the sum of money which is the principal be P

The amount given after 6 years is $\frac{7}{4} P$

The simple interest=amount-principal=$\frac{7}{4} P-P=\frac{3}{4} P$

The time for which the interest is calculated for 6 years

Let the rate of interest be R%

The simple interest will be calculated using the principal, time and rate of interest

$S.I=\frac{PTR}{100} \\\frac{3}{4} P=\frac{6PR}{100} \\\frac{3}{4} =\frac{6R}{100} \\R=\frac{3.100}{4.6} =\frac{25}{2}= 12.5$

The rate of interest is 12.5%