Question

If the simple interest on a sum of money is of the sum in 3 years, find the rate of interest 3 per annum. ​

Answer 1

Answer:

To find:

The rate of interest.

Solution:

The simple interest on any principal is given by:

SI=PRT/100

So in the question SI = P/3

Put it in the formula,

P/3=PR.3/100

1/3=R.3/100

100/9=R

R=11 1/9%

So the rate of the interest will be R = 11 1/9 %.

Step-by-step explanation:

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