Question

On a certain sum, the simple interest at the end of 6 1/4- years becomes 3/8 of the sum.find the rate of interest.​

Answer 1

The rate of interest is 6%

Step-by-step explanation:

Let sum be P

The simple interest is 3/8 of the sum.

$SI=\dfrac{3}{8}P$

Let rate be r%

Time, $t=6\dfrac{1}{4}=\dfrac{25}{4}$ years

$SI=Prt$

$\dfrac{3}{8}P=P\times \dfrac{r}{100}\times \dfrac{25}{4}$

$r=100\times \dfrac{3}{8}\times \dfrac{4}{25}$

$r=6\%$

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