Question

Simple interest on a certain amount is 9/16 of the principal. If the numbers representing the rate of interest in percent and time in years be equal, then time, for which the principal is lent out, is

Answer 1

Answer:

Time for which the principal is lent out is 7.5 years.

Step-by-step explanation:

Formula used : SI = PRT / 100

where P is principal

R is rate of interest p.a. in %

T is time in years

Given :

SI = (9/16) P

R = T

Substituting the given values in the formula, we have

(9/16) P = PR²/100

(4R)² = 900 = 30²

=> 4R = 30 => R = 7.5

Also, T =7.5

Therefore, the principal is lent out for a time period of 7.5 years.

Answer 2

Answer:

7.5 years

Step-by-step explanation: