Question

Simple interest on a certain amount is 9/16 of the principle. 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: 7.5 years

Step-by-step explanation:

Let, amount, interest rate and time are x , r , t respectively

Then, x(r/100)t = (9/16) x

, r^2= 900/16

, r = 30/4 =7.5%

Time is 7.5 years