Question

the interest on a certain sum of money is 0.24 times of itself in 3 years. find the rate of interest

Answer 1

Let p=100
Then interest=24
Interest=p*r*t/100
24=100*r*3/100
r=8% p.a

Hope This Helps :)

Answer 2

$\huge\bold\red{RajPut}$

Let the principal be RS.100

interest- 0.24×100

=RS.24

SI=P×R×T/100

24=100×r×3/100

24=3r

24/3=r

8=r