Question

if the simple interest on a certain sum of money for 2 years be 1/3 of the Sum , find the rate of interest per annum?

hi
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Answer 1

Answer:

Hii....The answer is 16.6%

Explanation:

ATQ,

I=P*r*t/100

1/3*P=P*2*r/100

r=100/3*P/P*1/2

=100/6

=16.6%