Question

If simple interest on a sum of money is 1 by 3 of the sum in three years find the rate of interest per annum​

Answer 1

Step-by-step explanation:

let principal be p ,

now,

interest for 3 years = p/3

interest for 1 year = p/3×3

now interest = p×r×t

p/9 = p×r×1

9pr = p

r= 1/9

r= 11.11%

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