Question

If the simple interest on a certain sum of money for 3 years is three-tenth of the
then find the rate of interest
per annum.
​

Answer 1

Answer:

Rate% = 10%

Step-by-step explanation:

Given :

Time(t) = 3 years

S.I= three tenth of the principal

To Find :

Rate%

solution:

According to given question :

Let Principal be x

o S.I =3/10 of x

As we know that S.I = p*r*t/ 100

S.I = p x r x t /100

3/10x =p*r*3/100

3x/10x=3r/100

3/10×100/3=r

r=10%

rate%=10%