Question

If rupees one becomes rupees 9 in 60 years at simple interest find the rate percent per annum

Answer 1

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Solution

Answer 2

The rate percent per annum is $13\frac{1}{3} \%$.

Step-by-step explanation:

Given:

Rupees one becomes rupees 9 in 60 years at simple interest.

To Find:

The rate percent per annum.

Formula Used:

$SI=\frac{MRS}{100}$   -------------------------- formula no 01.

Where,

SI = simple interest

M = principal

R = interest rate (in percentage)

S= time duration (in years)

Amount (A) = Principal (M) +  Simple Interest (SI)   ------- formula no.02

Solution:

As given,Rupees one becomes rupees 9 in 60 years at simple interest.

M= Rs.1     ,   S= 60 years    and  Amount ( A) =9

Applying formula no.02.

$9=1+SI$

$SI=9-1= Rs.8$

Applying formula no.01.

$8=\frac{1\times R\times 60}{100}$

$R=\frac{8\times100}{60}$

   $=\frac{800}{60} =\frac{40}{3}$

    $= 39\frac{1}{3} \%$

Thus,the rate percent per annum is $13\frac{1}{3} \%$.

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