Question

Simple interest on a certain sum is 9/25 times of the sum. Find the rate percent and time if both are equal.

Answer 1

Answer:

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Answer 2

Given,

The simple interest on a certain sum is 9/25 times the sum.

The rate (R) and time (T) are equal.

To find,

The rate per cent and time.

Solution,

The rate per cent will be 6% per annum and the time will be 6 years.

We can easily solve this problem by following the given steps.

According to the question,

The simple interest on a certain sum is 9/25 times the sum.

Now, let's take the principal amount (P) to be Rs. x.

So, the simple interest (SI) = 9/25 of x

SI = 9x/25

We know that the formula to find the simple interest is given is:

Simple interest = Principal(P)×Rate(R)×Time(T)/100

According to the question,

R = T

Let's take the R to be y%.

R = T = y

9x/25 = (x)(y)(y)/100

Dividing 100 by 25,

9x = xy²/4

Dividing x by x,

9 = y²/4

Using the cross multiplication method,

y² = 9×4

y² = 36

y = √36

y = ±6

Now, the rate and time can not be negative.

So, y = 6

Rate = 6% per annum

Time = 6 years

Hence, the rate per cent is 6% per annum and the time is 6 years.