At what rate percent will the simple interest on a sum of money of 2.5 years be 0.09375 of itself?
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Simple Interest = Principle*Number of years*Rate/100
ie, I = PNR/100
0.09375P = p*2.5*R/100
R = 0.09375P*100/(P*2.5) = 0.09375*100/2.5 = 9.375/2.5 = 3.75%
ie, An amount of money will make an interest of 0.09375 of itself by 2.5 years at 3.75% of simple interest.
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