Question

at simple interest a sum becomes 49/40 of itself in 5/2 years. the rate of interest per annum is?

Answer 1

Answer:

9%

Step-by-step explanation:

Given the sum becomes 49/40 times itself in 5/2 years.

=> A = (49/40)P in 5/2 years

We know that A = P(1+RT)

=> (49/40)P = P(1+R(5/2))

    49/40 = 1 + 5R/2

    49/40-1 = 5R/2

    (49-40)/40 = 5R/2

    9/40=5R/2

    9/20=5R

    R= 9/100

=> Rate of interest per annum is 9%.