Business Studies, asked by lionsdj8704, 1 year ago

If the simple interest on a certain sum of money is 4/25 of the sum and the rate percent equals the number years, then the rate of interest per annum is:

Answers

Answered by Rupicapra
9

Answer: The rate of interest per annum is 40%.

We arrive at the answer by following these steps:

The formula for Simple Interest (SI) is:

SI = P*N*R where  

P = Principal

N = No. of years

R = Rate of interest

From the question we have:

SI = \frac{4}{25}P and

N=R Substituting these values in the SI formula we get:

\frac{4}{25}P = P*R*R

0.16P = P*R^2

0.16 = R^2

R = 0.40

Since N=R, N = 0.4 years or 146 days.

Answered by priyaranjan31
5

Explanation:

acid will be 4%

the above answer is wrong

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