On a certain sum, the simple interest at the end of 12(1/2)
years is 3/4 of the sum. What is the rate percent per annum?
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Answer:
Let principal = P .
time period = 12 (1/2) years = 25/2 years .
Interest = 3/4 P
rate of interest (R) = I × 100 / P × T
R = 3/4P × 100 / P × 25 / 2
R = 75 P / 25P / 2
R = 75P × 2 / 25P
R = 6 % p.a.
Thus , the rate of percent per annum is 6 % .
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