Question

Simple interest on a certain sum is 9/16 of the sum. Find the rate per cent and the time if both are numerically equal​

Answer 1

Answer:

7.5 years

Step-by-step explanation:

Let P be the sum invested at a simple interest rate r and n be the time for which the sum is invested.

According to the question,

r = n and Simple intrest = 9/16 × P

Simple intrest = 9/16 × P

Pnr/100 = 9/16 of P

nr = 900/16

r2 = 900/16                 n = r

r = 7.5%

Hence, n = 7.5 years