Question

a sum of money lent on simple intrest become 9/4 of itself in 5 years .find rate of intrest per annum
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Answer 1

Answer:

Let the principal be P.

Rate of interest be R%

According to the question, Time=R

Simple interest =

9

4P

.

SI=

100

(PTR)

⇒

9

4P

=

100

(PTR)

⇒

9

4P

=

100

(P×R×R)

⇒

9

4P

=

100

(P×R

2

)

⇒

9

4

=

100

R

2

⇒R

2

=100×

9

4

⇒R=10×

3

2

=

3

20

Therefore, rate of interest is

3

20

% or 6

3

2

%.