Question

of sum of money becomes 4/3 of itself in 6 years at a certain rate of simple interest find the rate of interest

Answer 1

Sum = x ( Principal )
Amount = 4/3 of x
Simple Interest = 4/3x -x = x/3
Time = 6 years

Rate of Interest = Simple Interest × 100 / Sum × Time

Rate of interest = x/3 ×100 / x × 6
Rate of interest = x ×100 / 3 × x × 6
Rate of interest = 5.55% or 5 5/9%

Hope this helps.