The ratio of the principal and the amount after 3 years at a certain rate of simple interest is 10:11.The rate percent of the simple interest is________
Here, the options are--
(3%/3^1/3%/10%/none of these)
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Answer:
Let the principle = P, Rate = x% per annume
⇒
P(1+
100
r×1
)
P(1+
100
r
)
2
=
5
6
(1+
100
r
)=
5
6
⇒
100
r
=
5
6
−1=
5
1
r=
5
100
=20
∴ rate of interest = 20%
solution
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