Question

at what annual rate of interest will a sum of money amount to 17/16 of itself in 2 years and 6 months​

Answer 1

Step-by-step explanation:

which is the required ans.

Answer 2

Rate of interest is 2.5%.

Step-by-step explanation:

Since we have given that

Let P be the principal .

Amount = $\dfrac{17}{16}P$

Simple interest = $P-\dfrac{17}{16}P=\dfrac{1}{16}P$

Time = 2 years and 6 months = $2\dfrac{1}{2}=\dfrac{5}{2}$

So, it becomes,

$S.I=\dfrac{P\times R\times T}{100}\\\\\dfrac{1}{16}P=\dfrac{P\times R\times 5}{200}\\\\\dfrac{40}{16}=R\\\\R=2.5\%$

Hence, Rate of interest is 2.5%.

# learn more:

At what rate of interest will a sum of money double itself in 16 years.

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