Question

Ratio of principal and yearly amount is 16:17.The rate of interest per annum is?

Answer 1

SI = PNR/100

let principle= 16

and amount = 17

SI in this case let be 17-16= 1

so PNR/100= 1

now in this we know p= 16

and n= 1yr

1= 16*r /100

100= 16*r

r= 100/16

r= 6.25....

so the rate of interest= 6.25%

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