Question

at what rate will a borrowed of sum of money charged if it earns 1/4 of itself as interest of 1 year and 9 months

Answer 1

Given:

Interest is 1/4th of the sum of money

Time period = 1 year and 9 moths = $1\frac{9}{12} = 1\frac{3}{4} = \frac{7}{4} \: years$

To find:

The rate of interest

Solution:

Let "R" be the rate of interest and "P" be the sum of money

Interest received is 1/4th of the sum of money i.e., S.I. = $\frac{P}{4}$

The formula of the simple interest is given by,

$S.I. = \frac{PRT}{100}$

Now, we will substitute the given values in the above formula to find the value of R.

∴ $\frac{P}{4} = \frac{P\times R \times \frac{7}{4} }{100}$

cancelling P from both sides

⇒ $\frac{1}{4} = \frac{1\times R \times \frac{7}{4} }{100}$

⇒ $\frac{100}{4} = 1\times R \times \frac{7}{4}$

⇒ $100 = 1\times R \times 7$

⇒ $R = \frac{100}{7}$

⇒ $\bold{R = 14.28\%}$

Thus, the rate of interest is 14.28%.

------------------------------------------------------------------------------------------------

Also View:

The interest on a sum of money at the end of 6 1/4 years is 5/16 of the sum itself . What rate percent was charged.

https://brainly.in/question/14588588

a certain sum of money was borrowed at 6% p.a. for a period of 3 years and 8 th month.if the amount refunded together with interest is Rs.2049.60, find tje amount of money that was initally borrowed.

https://brainly.in/question/2189386

Answer 2

Answer:

Step 1 /4 = 67

Step