Question

A sum of money becomes 7/6 of itself in 3 years at a certain rate of simple interst. The rate per annum
A) 5%
B) 5.5%
C) 6%
D) 6.5%

Answer 1

S.I. =(7x/6 – x) = x/6 ;

time = 3 years

Rate =[ (100 * x) / (x * 6 * 3)]% = 5.5%